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Neuron Mobility has raised $17 million to expand electric scooters in Australian cities and the United Kingdom

pxidw 2020-10-05 238 times

Neuron Mobility, a company that operates an electric scooter-sharing network to bring sustainable last-mile options to people, has raised $17 million and plans to launch electric scooters in five other Australian cities and the United Kingdom.

Led by investment firm Square Peg and GSR Ventures, this round will help electric car companies expand their businesses and create up to 400 new jobs.

Zachary Wang, CEO of Neuron Mobility, said in an email, "Cities around the world are rethinking their transportation systems and more and more people are looking for a safe, inexpensive way to distance themselves from society.

"This presents a huge opportunity for micro-transport providers."Our experience in Australia, coupled with the new capital, will help us accelerate our growth across the region and beyond."

Neuron Mobility has raised $17 million to expand electric scooters in Australian cities and the United Kingdom

Singapore-based Neuron already operates 4,000 electric scooers in Adelaide, Brisbane, Darwin, Canberra and Townsville, as well as Auckland, New Zealand.

The new funding will increase Neuron Series A's total funding to A $43.2 million, adding five new Australian cities to its operations.

"Cities are becoming more and more open to micro-transport. In the past two weeks, we've opened stores in Canberra and Townsville in Australia, and announced our first store in the UK. Now it's time to export our technology knowledge to new cities around the world.

Neuron names Slough, the largest industrial centre outside London, as the UK's first launch site.

"Our approach has always been to work with cities and adapt to their needs, which has led to many world firsts and innovations," Wang said.

Neuron Mobility says its scooter is designed with rider safety in mind first.In addition to introducing a "helmet lock" to hold the helmet in place between trips, it said it was the first company to implement geo-fencing, adding interchangeable batteries to speed charging, and a voice-guided system to encourage riders to use electric scooters safely.

Neuron Mobility has raised $17 million to expand electric scooters in Australian cities and the United Kingdom

It also USES a "flip detection" feature that alerts the Neuron team to quickly reposition the scooter and has an emergency call button that can be used if the rider falls.The Follow Me On My Journey feature also allows families to track down loved ones.

Wang says there will be more storage space for Neuron in future releases of electric scooter designs.

"We are working hard to lead the industry in terms of safety and sustainable operations and have an exciting array of new features that we are about to roll out," he said.

Tushar Roy, a Square Peg partner, said in a statement that Neuron is all about innovation and collaboration.

"The company continues to develop new technology solutions to address the transportation challenges of cities, and they work closely with city councils to implement these solutions in ways that promote better outcomes for the public," he said.

"This method has led to the introduction of many Neuron firsts, solidifying their place as industry leaders."