INSUBCONTINENT EXCLUSIVE:
Neuron Mobility, a Singapore-based startup, has closed an $18.5 million financing round as it looks to scale its e-scooter startup in
funded by GSR Ventures, a venture capital firm that was the first institutional investor in Chinese ride-hailing giant DiDi Chuxing, and
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-scooter rental platform
affordable in every market where they are available
In Brisbane, Australia, for instance, anyone can begin a trip with a Neuron bike by paying one Australian Dollar (68 United States 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 electric scooters can go as fast as 25 kilometre per hour (15.5 miles per hour), and automatically slow down at certain
places, such as near a school
Its entire DNA is built around working very closely with local leadership to bring new mobility solutions to citizens in a safe and
These e-scooters are equipped with a swappable battery
Once the ride is finished, a customer can drop the bike at any nearby parking station or any suitable location
Bounce and Yulu, Neuron Mobility also designs its electric scooters, but relies on a Chinese equipment manufacturer for producing them
(Yulu recently inked a strategic deal with Bajaj Auto to task the Indian auto manufacturing giant with the production job.)As Neuron expands
to international markets, it has had to halt its e-scooter rental service in the home market of Singapore
Wang and executives from other startups have expressed concerns over the decision.Telepod, which uses e-scooters to deliver food; GrabFood,
another food delivery startup; and shared e-scooter service startup Beam, said they could no longer offer the same level of customer service
to their users, and had little choice but to focus on other markets.Wang said that Neuron still has teams that work from Singapore, but they
have always focused on the larger Asia Pacific region and other markets
Besides, Neuron stopped its service in Singapore months before the nation passed any new law
(Prior to the recent order, Singapore had other issues with electric scooters.)Neuron will use the fresh capital to further its footprint in
the markets where it operates and explore building new categories, Wang said
electric scooters and bikes have imploded in Southeast Asian markets, where a growing number of familiar brands such as Lime, Bird, Ofo,
oBike and local players are increasingly expanding their presence.
