Neuron Mobility Raises USD 18.5 Million in Series A

Neuron Mobility offers electric scooters that can reach speeds up to 25 kilometers per hour. The vehicles also have an inbuilt system where it automatically slows down while approaching certain places, like a school. The startup jointly operates with city councils to understand how these e-scooters should operate.

Fremont, CA: Singapore-based Neuron Mobility raised USD 18.5 million in a Series A funding round led by GSR Ventures and Square Peg, with investment from existing investors SeedPlus and SEEDS Capital. The company has raised USD 23.5 million since being set up. The e-scooter sharing startup will use the new funds to accelerate their expansion in Australia and New Zeland, expand into other Asia Pacific market and technology development.

With its headquarters in Singapore, the company operates in Thailand, Australia, and New Zealand, and has ceased e-scooter sharing operations in Singapore and Malaysia. The startup was founded in 2016 and currently has a little over 1,000 scooters in its arsenal. The company mainly operates in Australia, where it won a permit in June to operate 60 percent of the scooter fleet allocation in Brisbane City, Queensland. The company is also expected to become the sole scooter operating firm in Darwin City in 2020.

“The culture of collaboration with cities permeates through Neuron. Its entire DNA is built around working very closely with local leadership to bring new mobility solutions to citizens in a safe and sustainable way,” said Tushar Roy, Partner at Square Peg. Neuron Mobility offers cheap and affordable rentals across all the cities it is available in. Customers can start riding these scooters by paying as little as 68 Cents.

The company offers electric scooters that can reach speeds up to 25 kilometers per hour. The vehicles also have an inbuilt system where it automatically slows down while approaching certain places, like a school. The startup jointly operates with city councils to understand how these e-scooters should operate. They can cover distances of 60 kilometers on a single charge and run on swappable batteries. The company works closely with a lot of personnel spread across different cities, who closely monitor these scooters and replace batteries whenever required.

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