US $43.5 M Series B funding received by Shared e-bike operator Neuron Mobility

Neuron Mobility, a Singapore-based shared e-scooter and e-bike company, has secured $43.5 million in Series B investment led by GSR Ventures and Square Peg.

The EDBI of Singapore also participated in the round, increasing Neuron Mobility’s total financing to $77.7 million.

Neuron’s international expansion plan will be aided by the new funds. It will also enable the company to continue designing and manufacturing its own safety-first e-scooters, as well as develop and expand a variety of new technology.

Neuron claims to have more than quadrupled its activities since its last investment round 19 months ago, rising from seven cities in September 2020 to 26 locations now.

For safety and long-term operations, Neuron Mobility designs and produces its own e-scooters. In 2018, it introduced a battery-swappable e-scooter for more environmentally friendly operations. It also released a comprehensive suite of geofencing in the same year to restrict where and how e-scooters are ridden.

The company released an app-controlled helmet lock in early 2020, which integrates a helmet into every e-scooter.

Neuron Mobility entered Canada in May 2021 and has since been granted permission to operate in more than a third of the country’s cities. Ottawa, Calgary, Red Deer, Lethbridge, and Vernon are among the five Canadian cities where it has obtained permissions.

It has a presence in 18 Australian and New Zealand cities. With city debuts in the United Kingdom and South Korea, the firm has expanded its worldwide reach.

Zachary Wang, Neuron Mobility’s CEO, said, “We think our vertically integrated approach, designing and building our own e-scooters and the systems that run them, gives us a unique advantage. Proprietary technologies, like our ‘e-scooter brain’ and a range of AI innovations, are a real differentiator and help us integrate into cities in the best possible way.”