Neuron Mobility Secures US$43.5 Million In Series B Funding

By Chong Seow Wei

Who led the round?

Tatler Asia
Zachary Wang, co-founder and CEO of Neuron Mobility
Cover  Zachary Wang, co-founder and CEO of Neuron Mobility

E-scooter operator Neuron Mobility has raised US$43.5 million in a Series B round led by GSR Ventures and Square Peg. EDBI, the corporate investment arm of Singapore’s Economic Development Board, also joined the round. With the latest investment, the company’s total capital has reached US$77.7 million. 

Neuron Mobility will use the fresh funds to further expand its business and develop its proprietary technology. Since its founding in 2016, the company, led by co-founder and CEO Zachary Wang, has expanded to 26 cities across Australia, New Zealand, South Korea, Canada and the UK. It has attained a significant market share in Australia, operating in every capital city in the country.

The company also prides itself on designing and manufacturing its own e-scooters. Last November, it announced the launch of its new “e-scooter brain” to enhance the safety of its fleet. The ADAS (assisted driver assistance systems) technology will add more sensors to its e-scooters that will help detect and prevent unsafe riding behaviour, such as kerb jumping, aggressive swerving or tandem riding. The tech is currently being trialled in the first 1,500 e-scooters in cities across Australia, Canada and the UK.

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