Neuron Mobility, a Singapore-headquartered electric scooter rental operator, has added US$12 million into Series A, bringing its total funding raised in this round to US$30.5 million.
The new tranche of investment was co-led by existing investors Australian VC firm Square Peg Capital and GSR Ventures.
The fresh capital will be used by Neuron to accelerate its international expansion, particularly in Australia and New Zealand post COVID-19. It has partnered with councils across these to nations to operate in nine locations.
The company also plans to expand into at least five new cities across the region within the next 12 months and aims to create 400 jobs.
In addition, it has launched in Slough in the UK, which will be operational before the end of the year.
Founded in Singapore in 2016 Wang and Harry Yu, Neuron operates e-scooter sharing services across Singapore, Malaysia, Thailand, New Zealand and Australia.
It has also introduced a range of other innovations, including a topple detection feature that can detect if an e-scooter has been left on its side which then alerts an operations team to reposition it safely; an emergency button which can tell if someone has had a fall and helps the rider call the emergency services; and, a “follow my ride” feature that allows the rider’s friends and family to track an e-scooter trip in real time for added safety and peace of mind.
Since the last funding round in December 2019, Neuron has launched in a further eight cities in Australia and New Zealand and has announced its entry into the UK market.
Currently operating a fleet of 4,000 e-scooters, the company’s 400,000 Australian and New Zealand riders have completed close to two million trips and four million kilometers of city travel.
South Africa Today
Read more at VolaNews
