Home Companies Singapore-based micromobility startup Beam secures $93M Sequence B, enters new markets – TechCrunch

Singapore-based micromobility startup Beam secures $93M Sequence B, enters new markets – TechCrunch

Singapore-based micromobility startup Beam secures $93M Sequence B, enters new markets – TechCrunch


Beam, a Singaporean shared micromobility operator, introduced right now that it has raised $93 million in a Sequence B spherical to speed up development into new nations in Asia.

The recent capital, which brings its complete funding raised to $135 million, was led by Affirma Capital, with participation from Sequoia Capital India, Hana Ventures, ICT Capital, EDB Funding (EDBI), AC Ventures, RTP World and Momentum Enterprise Capital. The Sequence B brings Beam’s valuation up into the triple digits, says CEO and co-founder of Beam Alan Jiang who declined to supply actual numbers. 

Beam, which at present operates e-scooters and e-bikes in 35 cities throughout Malaysia, Thailand, South Korea, Australia and New Zealand, goals to unfold into markets like Japan, Indonesia, the Philippines, Vietnam and Turkey. 

As well as, the brand new capital will allow Beam to spur its deployment of a brand new fifth technology Beam Saturn e-scooter, which the corporate intends to start out rolling out within the second half of this yr. The following-gen scooter will include an up to date model of Beam’s security platform, dubbed Micromobility Augmented Using Security (MARS), that helps shield pedestrians and improve native governments’ management over the place e-vehicles can park or experience, says Jiang. 

Present applied sciences throughout the platform embody useless reckoning and on-edge geofencing, however the fifth gen Saturns can have a characteristic referred to as Beam Pedestrian Protect, ” an onboard AI digicam that may immediately and precisely detect pedestrians to stop collisions and detect footpaths to routinely scale back car pace and even forestall driving utterly,” in keeping with Deb Gangopadhyay, chief expertise officer of Beam.

Beam says its on-board digicam with laptop imaginative and prescient might be rolling out at scale by Q3 this yr. The corporate initially might be piloting the onboard digicam expertise, which is developed in collaboration with its undisclosed R&D accomplice, a spokesperson at Beam instructed TechCrunch.

For instance, American micromobility firm Spin is working with Drover AI, a pc imaginative and prescient startup, to pilot camera-based security methods in a couple of markets, and European operator Voi is doing the identical with Luna within the U.Ok.

New tech apart, the Saturn will even characteristic 12-inch wheels which might be 20% bigger than the common e-scooter wheels mixed with hydraulic suspension. The Saturn has absolutely swappable batteries with ample capability for 110km of driving vary, double the common e-scooter battery capability, to additional enhance sustainability, in keeping with the corporate.

Beam additionally plans so as to add a brand new e-moped to its car portfolio, the Beam Pluto, within the second half of this yr, and expects e-mopeds to comprise as much as one-third of its fleet over the subsequent two years, Jiang stated in an electronic mail interview. 


Beam’s MARS expertise

Beam’s income has seen 15 instances development since 2020, says Jiang, regardless of experiencing mobility restrictions attributable to the Covid-19 pandemic, however the CEO didn’t present a baseline for that development. When requested about tightening rules on micromobility in some Asian nations, Jiang instructed TechCrunch that Beam works very intently with regulators in all geographies the corporate operates in to supply secure and sustainable shared micromobility and Beam rebalances car belongings between geographies relying on deployment alternatives. Micromobility is broadly being acknowledged as an indispensable mode of transport nearly throughout Asia, with the corresponding regulatory frameworks getting extra mature, he famous.

“Our aim is to shift ‘single particular person journeys’ onto shared small electrical autos, that are step operate extra environmentally pleasant for cities and cost-efficient for customers,”Jiang instructed TechCrunch. 

This text has been up to date to replicate new data from Beam.


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