Neuron’s e-scooters set to roll across Asia after $3.7m seed injection

Shared e-scooter service Neuron Mobility has raised US$3.66 million in a seed round led by Singaporean venture capital firm SeedPlus.

Other investors to participate included 500 Startups, Taiwan’s Ace Capital, and Seeds Capital, the investment arm of government agency Enterprise Singapore, as well as several “prominent angel investors and family offices.”

Photo credit: Neuron

Siri Ventures, the VC arm of Thai real estate developer Sansiri, also invested in Neuron recently, according to a local report.

Singapore-based Neuron said it will use the seed funding to develop a new e-scooter model and to further the expansion of its services throughout Asia Pacific.

The startup – which said its “proprietary supply chain” gives it greater control over manufacturing and enables quicker scaling – is building a new scooter that “will set a new standard for enhanced robustness and rider safety” and is compliant with standards set by UL, a US safety certification organization.

In the past few months, Neuron has commenced scooter-sharing services in Thailand, specifically in the cities of Bangkok and Chiang Mai. It is set to launch a service in Malaysia this month.

A company spokesperson told Tech in Asia that it has “Indonesia, Korea, Taiwan, Australia, and other countries on [its] radar” for further expansion. However, as indicated in a TechCrunch report, that will have to wait until Neuron raises series A funding, which is slated for some time in H1 2019.

See: Grab is shutting down GrabCycle and replacing it with its new e-scooter app

It has numerous competitors in Singapore, including Sequoia-backed Beam, Grab with its recently unveiled GrabWheels service, and Telepod, which counts MomentUM – the venture-building unit of the city-state’s public transport operator SMRT – among its investors. Neuron claims its has the edge due to its self-made scooters, as well as its cross-border presence and force of numbers.

It’s “the only player with a regional presence in Asia [and] we also have the largest e-scooter fleet in Singapore,” the spokesperson said.

“We use more advanced sensors than what is seen on other e-scooters in the market today. Nearly 90 percent of e-scooter sharing services globally use [Chinese manufacturer] Ninebot, which is facing huge supply and shortage issues – issues that we don’t face,” they added.

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Like Grab, Neuron has also dabbled in dockless bicycles, trialing a bike-sharing service alongside its scooters last year.

“We soon realised that users prefer e-scooters,” said the spokesperson. “E-scooters are perfect for dense urban areas. Since we launched the service, we have seen a huge [uptake]. Although it’s a new form of transportation, it is very easy to get started with.”