Firm operating e-scooter sharing service bags $5m in seed funding

A local firm that operates an electric scooter sharing service has raised $5 million in seed funding.

Neuron Mobility will use the funds to expand its services across the Asia-Pacific.

The financing came from SeedPlus, 500 Startups, Seeds Capital, Ace Capital and other angel investors and family offices.

The company recently launched the first e-scooter sharing service in Bangkok and Chiang Mai. It will start a service in Malaysia this month. It will also be developing an e-scooter that it believes will set a new standard for enhanced robustness and rider safety.

The company has a proprietary supply chain for its scooters, allowing it greater control over the manufacturing of the devices and enabling quicker scale-up, it said in a statement.

SeedPlus partner Chirayu Wadke said: "The co-founders impressed us with their strategy around building an e-scooter service, which tends to be very different from ride-hailing or bike-sharing, given the short trips and charging infrastructure needed to deliver a great customer experience."

He added: "Using home-grown IoT (Internet of Things), predictive analytics and network optimisation, the company is positioned favourably to rapidly expand across South-east Asia."