Singapore’s e-scooter startup Neuron Mobility bags $3.6m seed funding

Photo: Neuron Mobility

Singapore-based e-scooter service provider Neuron Mobility announced that it has raised S$5 million ($3.6 million) from SeedPlus, 500 Startups, SEEDS Capital, ACE Capital and other angel investors as well as family offices, it said in a statement on Thursday.

The VC arm of Thai-listed property developer Sansiri and Siam Commercial Bank, Siri Ventures, has also joined the round.

According to Neuron Mobility, the fresh funds will be used to expand its services across Asia Pacific, having launched its e-scooter sharing service in Bangkok and Chiang Mai in the past few months. It aims to launch in Malaysia this month.

Neuron Mobility CEO Zachary Wang told DEALSTREETASIA that he has Indonesia, Korea, Taiwan, Australia, New Zealand and other markets on his radar.

“We are very pleased with early traction in Thailand – we have a partnership with foodpanda for Chiang Mai that is working out very well and our partnership with Sansiri in Bangkok has seen a lot of early success. We believe Thailand will be an important market for us in future,” he said.

In addition, the startup will also be developing a “superior commercial grade” e-scooter for enhanced robustness and rider safety. Neuron Mobility has a proprietary supply chain for its scooters, allowing the startup to have greater control over the manufacturing of scooters and enabling quicker scale-up process.

“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 Wang.

Founded in 2016, Neuron Mobility claims that it owns and operates the largest shared e-scooter fleet in Singapore. It has close to 1,000 scooters in Singapore and a few hundreds more in Thailand.

“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 SeedPlus partner Chirayu Wadke.

Quick bites with Neuron Mobility’s CEO, Zachary Wang:

Continue reading this story with a subscription to DealStreetAsia.

Subscribe

Contact us for corporate subscriptions at subs@dealstreetasia.com.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.