In December last year Neuron announced it had attracted investment of US$18.5 million from Square Peg and GSR Ventures, with existing investors Seedplus and SEEDS Capital also contributing.
Neuron said on Wednesday that the latest fresh capital injection puts the company in a “strong position to accelerate expansion in Australia post-COVID-19, and to maintain industry leadership when it comes to innovation and safety”.
Neuron has partnered with councils across Australia to operate in eight locations including Adelaide, Brisbane, Darwin, Canberra and Townsville, and says it aims to build on this further by expanding into at least five new cities across the region within the next 12 months.
Against the backdrop of COVID-19, cities and consumers across the world are realising the potential of e-scooters as a safe, convenient and socially-distanced transport option,” Neuron said in its statement n Wednesday.
“With international and interstate travel restrictions still in place, Australians are traveling locally more than ever before and in many cities e-scooters are providing a boost for the local economy.
“During the COVID-19 lockdown in Australia, Neuron reported that one in five users had never ridden an e-scooter before, and since then many have actively chosen to change their travel habits. Increasingly concerned with social distancing, Australian and New Zealand riders have increased their average e-scooter trip distance by 23% to 2.6km, while the average duration has risen by 10% to more than 14 minutes,” Neuron said.
Outside of the Australian region, the company has announced a launch in Slough, the first UK location amongst a number that it says it will be operating in before the end of the year.
Zachary Wang, Neuron Mobility’s CEO, said: “Cities across the world are rethinking their transport systems and increasingly people are looking for a safe, inexpensive and socially-distanced way to travel post COVID-19. This presents a great opportunity for micromobility providers. Our experience of operating in Australia, combined with fresh funding, will help us accelerate our growth across the region and beyond.
“Our approach has always been to partner with cities and to adapt to meet their needs - this has led to quite a few world firsts and innovations. We strive to lead the industry when it comes to safety and sustainable operations and have a whole host of exciting new features in the pipeline that we’ll be rolling out soon.”
“Cities are increasingly open to micromobility -- in the last two weeks we have opened in Canberra and Townsville in Australia, and have announced our first location in the UK -- the time is right to export our know-how to new cities across the globe.”