Tuesday, 10 December 2019 11:22

E-scooter firm Neuron Mobility raises funds to expand in Australia

By
Neuron Mobility chief executive Zachary Wang, Square Peg partner Tushar Roy and Neuron chief operating officer Harry Yu. Neuron Mobility chief executive Zachary Wang, Square Peg partner Tushar Roy and Neuron chief operating officer Harry Yu. Supplied

Singapore e-scooter provider Neuron Mobility has attracted investment of US$18.5 million from Australian venture capital firm Square Peg and US cross-border fund GSR Ventures. Existing investors Seedplus and SEEDS Capital also contributed.

The money will be used to expand operations in Australia and other countries and also for developing technology.

A statement from the company said following its entry into Australia in June, after it won a permit to operate 60% of the scooter fleet allocation in Brisbane City, it had won an exclusive contract to operate the shared e-scooter program in Darwin City.

Neuron was founded in 2016 by Zachary Wang and Harry Yu. “The world is on an irreversible trend to adopt micromobility services into cities of all kinds and sizes in the coming years," said Wong who is chief executive.

"But it is not a standalone solution to transportation gaps. Successful implementation of scooter-sharing programs can only happen when there is a strong partnership between local governments and technology providers.”

Neuron has data scientists, urban planners, and engineers on its staff, all of whom translated raw data for its operations and the city’s transport planning.

Square Peg partner Tushar Roy said, “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 chief operating officer Yu: “It’s exciting to see the product iteration cycle becoming shorter in the micromobility space. We are committed to continue our effort in developing new technologies that makes this service a seamless integration with cities around APAC."

Neuron has also developed has rider safety technologies to detect falls, a helmet incentive program, and geofencing technology that can assign low-speed zones, no riding zones, and no parking zones in any given city.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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