Singapore e-scooter start-up raises $18.5m
Neuron Mobility, a Singapore-based e-scooter company, has secured a $18.5 million Series A round led by Australia’s Square Peg Capital and US-based GSR Ventures.
Singapore's SeedPlus and Seeds Capital, an investment unit of Enterprise Singapore, a government agency, also participated. The fresh capital will support technology development as well as an expansion in Australia and into New Zealand.
Founded in 2016, Neuron describes itself as a micro-mobility services company. The company employs data scientists, urban planners, and engineers to translate raw data into insights for e-scooter-sharing operations. Its current footprint includes Singapore, Malaysia, Thailand, and Australia.
“The culture of collaboration with cities permeates through Neuron,” Tushar Roy, a partner at Square Peg, said in a statement. “Its entire DNA is built around working very closely with local leadership to bring new mobility solutions to citizens in a safe and sustainable way.”
Neuron claims to have facilitated more than one million scooter rides since inception. Since entering Australia in June, it has received permits to operate 60% of the scooter fleet allocation in Brisbane and secured licenses for Darwin and Auckland in New Zealand.
The company’s latest scooter model claims to leverage a number of market-first technologies. These include functions to enhance rider safety such as fall detection, a helmet incentive program, and geofencing technology that can assign low-speed zones, no-riding zones, and no-parking zones in any given city.
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