Neuron Mobility secures $12 million funding to expand to Australia, UK and New Zealand
Singapore e-scooter startup Neuron Mobility has announced its latest round of funding of $12 million, led by top Australian venture capital firm, Square Peg, along with global venture capital firm GSR Ventures.
This brings Neuron’s total Series A funding to $30.5 million and puts us in a strong position to accelerate growth post-COVID-19.
Neuron currently operates in nine locations including Adelaide, Brisbane, Darwin, Canberra, Townsville and Auckland. We aim to launch into at least five new cities across Australia and New Zealand within the next 12 months, creating around 400 jobs for both markets as well as our headquarters in Singapore. We’ve also recently announced a launch in Slough, our first UK location amongst several more.
Across the globe, cities and consumers are also recognising the potential of e-scooters as a safe, convenient and socially-distanced transport option. During the COVID-19 lockdown in Australia, we ran a survey which revealed that one in five users had never ridden an e-scooter before.
With riders increasingly concerned with social distancing, e-scooter use has since been on the rise in Australia and New Zealand. Riders have increased their average trip distance by 23% to 2.6km, and the average duration has risen by 10% to more than 14 minutes.
"We are incredibly grateful to our council partners and riders for their support so far, and we are excited to bring our e-scooters to more cities across Australia, New Zealand, the UK and beyond!" read a statement from Neuron.