US bike-share firm founded by Singaporeans raises $11m

Spin, a San Francisco-based start-up founded by three Singaporeans, has raised an US$8 million (S$11.1 million) round of venture funding led by Grishin Robotics and joined by Exponent.VC, CRCM and angel investors Matt Brezina and Quora co-founder Charlie Cheever.

The company intends to use the funding to accelerate hiring and expand deployment of its bicycle sharing system across several cities in the United States. It plans to "build one of the largest dockless bike-share fleets in the world".

Spin is in talks with a number of US cities - including Seattle - to roll out bicycles this summer, co-founder and chief executive Derrick Ko told The Straits Times.

Added president and co-founder Euwyn Poon: "Our approach to bike-share is unique in that it requires no public funding. Unlike competitors that enter US cities without permission, Spin is dedicated to working closely with cities to establish clear procedures for permitting and a pathway to success that benefits both cities and riders."

Users can make use of Spin's app to locate its orange-coloured smart bicycles, which are unlocked by scanning a QR code.

Mobile learning app secures $2m in funding

Silicon Valley and Singapore-headquartered start-up Gnowbe has raised US$1.7 million (S$2.35 million) in its latest funding round to support its next phase of growth.

The funding will be used to grow Gnowbe's team of developers, sales and marketing professionals.

Gnowbe has developed a "learn-by-doing" employee training platform on a mobile- first, web-responsive app.

The company said it is seeing its users grow at a rate of over 15 per cent monthly and the number of new programmes created increase by 24 per cent monthly.

A version of this article appeared in the print edition of The Straits Times on May 30, 2017, with the headline 'Start@S'pore'. Print Edition | Subscribe