SG IoT startup raises GGV-led seed round, launches EV roaming network

SP Group is one of Beep’s partners in Singapore./ Photo credit: Beep

Beep, a Singapore-based IoT firm, has completed an undisclosed seed round led by GGV Capital and investor Wing Vasiksiri. Participants include NUS Technology Holdings, SUTD Venture Holdings, and XA Network.

The startup is also launching an electric vehicle roaming network called VoltNet. The service, which is operated through the firm’s e-mobility platform, Voltality, lets EV drivers use charging stations from various providers without needing to download multiple apps.

Partners in Singapore include SP Group, ComfortDelGro Engie (CDG ENGIE), Charge+, as well as strategic collaborators QuickCharge, MNL Solutions, and Go by City Energy.

“Southeast Asia is experiencing a key inflection point in its journey towards a fully electric future, with Singapore playing a leading role due to our relative maturity and charging network density,” said Kristoffer Jacek Soh, co-founder and CEO of Beep. “We strongly believe that for mass adoption to successfully pick up, charging connectivity must be seamless, interoperable, and collaborative.”

Beep plans to use the funds to expand VoltNet into Malaysia, Thailand, and other parts of the region.

Funding details

• Funding amount: Undisclosed
• Lead investors: GGV Capital, Wing Vasiksiri
• Other investors: NUS Technology Holdings, SUTD Venture Holdings, XA Network
• Stage: Seed
• Source

Founded in 2018, Beep’s mission is to enable cashless transactions for vending machines via IoT. It first introduced Voltality – which aims for interoperability across various EV charging networks – in 2021.

Voltality offers a white-label website and API. This means operators don’t need to additionally integrate with Voltality’s platform, and the service itself doesn’t need to develop a proprietary charging app. 

Early adopters of this network include the Hyundai Motor Group Innovation Centre in Singapore, Tribecar, EVFY, Singapore Electric Vehicles, and Quantum Mobility.

VoltNet was first piloted in June 2022 with five operators. Aside from VoltNet, services under Voltality include virtual point-of-sale system VoltNow and modular terminals VoltPOS.

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