Neuron Mobility raises Bt120m funding for Asia-Pacific expansion
Southeast Asia’s leading e-scooter service, Neuron Mobility, has raised S$5 million (Bt120 million) in funding from SeedPlus, 500 Startups, SEEDS Capital, ACE Capital, and several other prominent angel investors and family offices, the company said in a press release issued on Saturday.
The company said it will use the funds to expand its services across Asia-Pacific. In recent months, the company has launched the first e-scooter sharing service in Bangkok and Chiang Mai; and will launch its service in Malaysia in December.
“We see an increasing need for last mile mobility solutions across Asia. We are grateful for the support of our partners who believe in our vision of building a sustainable micro-mobility platform that works with cities to solve the needs of consumers looking for a fast, convenient, and affordable mode of transport. This latest funding allows us to apply our experience in operating in Singapore and Thailand, and expand our services to the wider Asian region, giving commuters a sustainable personal mobility solution,” said Zachary Wang, CEO of Neuron Mobility.
In addition to using the funds to expand its presence across the region, the company will also be developing a superior commercial grade, UL certificate-compliant e-scooter that will set a new standard for enhanced robustness and rider safety, the company said. The company has a proprietary supply chain for its scooters, allowing them greater control over the manufacturing of scooters and enabling quicker scale up.
The company said it believes in working with local governments to create a safe and positive riding experience. It was one of the first to incorporate geo-fencing technology to ensure scooters are parked within designated parking zones. First-time riders are required to go through an instructional series on safety before they start using the service, and the company will be unveiling a ‘Ride Responsibly’ campaign soon that focuses on user education.
"The co-founders impressed us with their strategy around building an e-scooter service, which tends to be very different from ride-hailing or bike-sharing given the short trips and charging infrastructure needed to deliver a great customer experience. Using homegrown IOT, predictive analytics, and network optimisation, the company is positioned favorably to rapidly expand across Southeast Asia. We strongly believe in the company’s vision of working collaboratively with cities and local stakeholders to drive growth in smart city initiatives,” said Chirayu Wadke, Partner at SeedPlus.
Beyond Singapore, the company is looking to expand to regions in SEA and the broader Asia-Pacific region. The announcement comes on the heels of a partnership with Thailand’s Sansiri Public Company Limited, following Neuron Mobility’s recent launch in Bangkok to bring last mile connectivity to one of Asia’s biggest and most congested cities.