SINGAPORE - Singapore's Neuron Mobility, which operates an electric scooter sharing service, has raised $5 million in seed funding from SeedPlus, 500 Startups, SEEDS Capital, ACE Capital and other angel investors and family offices.
Neuron Mobility will use the funds to expand its services beyond Singapore to across Asia-Pacific. The firm recently launched the first e-scooter sharing service in Bangkok and Chiang Mai, and will launch its service in Malaysia in December.
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. UL certification means that the product complies with certain safety standards.
The company has a proprietary supply chain for its scooters, allowing them greater control over the manufacturing of scooters andenabling quicker scale up, said Neuron Mobility in a press statement.
Chirayu Wadke, partner at SeedPlus, said: "The co-founders impressed us with their strategy around building an e-scooter service, whichtends 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 (Internet of Things), predictive analytics and network optimisation, the company is positioned favorably to rapidly expand across South-east Asia."