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Neuron Mobility, a Singapore-based startup, has closed an $18.5 million new financing round as it looks to scale its e-scooter startup in international markets.
The new financing round, dubbed Series A, was funded by GSR Ventures, a venture capital firm which was the first institutional investor in Chinese ride-hailing giant DiDi Chuxing, and Square Peg, Australia’s largest venture capital firm.
Investors - SeedPlus - SEEDS - Capital - Round
Existing investors SeedPlus, SEEDS Capital also participated in the round. The three-year-old startup has raised about $23.5 million to date.
Neuron Mobility, which began its journey in Singapore, operates an eponymous e-scooters rental platform. In recent years and quarters, Neuron has expanded to cities in Malaysia, Thailand, Australia, and New Zealand.
Neuron - E-scooters - Market - Brisbane - Australia
Neuron’s e-scooters are affordable in every market where they are available. In Brisbane, Australia, for instance, anyone can begin a trip with a Neuron’s bike by paying one Australian Dollar (68 U.S. cents) and then 38 Australian cents for each minute of the ride, Zachary Wang, co-founder and chief executive of Neuron, told TechCrunch in an interview.
These scooters can go as fast as 25 kilometer per hour, and automatically slow down at certain places such as near a school. Wang said the startup closely works with city councils to understand how these e-scooters should operate.
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