It will be partly used to foray into other Asia Pacific markets.
Shared e-scooter operator Neuron Mobility has raised $25.14m (US$18.5m) in a funding round, according to a press release. The funding was led by US-based GSR Ventures and Australian venture capital firm Square Peg.
The capital is intended to be used to accelerate its Australian and New Zealand roadmap, its foray into other Asia Pacific markets, and further development of its technology.
Existing investors Seedplus and Enterprise Singapore’s SEEDS Capital also joined the round. The investment follows its earlier $5.16m (US$3.8m) seed round in December 2018.
Founded in 2016 by engineer Zachary Wang and data scientist Harry Yu, Neuron employs a team of data scientists, urban planners, and engineers who translate raw data into insights for its operations and the city’s transport planning, including real-time data integration, asset location reports, incident management, and co-creation of preferred riding zones.
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