Beam, a Singapore-based and Singapore-based shared micro-mobility operator, said in a statement on Feb. 25 that it will accelerate its expansion in Southeast Asia and beyond after raising a successful $93 Series B round. Extensive Asia Pacific expansion and addition of its model offerings. million. Founded in 2018, the company provides electric scooters and e-bikes on a shared basis and currently operates in 35 cities in Australia, New Zealand, Singapore, South Korea, Malaysia and Thailand. Users can access Beam’s app to locate vehicles near them, unlock them for travel, and drop off anywhere…
Beam, a Singapore-based and Singapore-based shared micro-mobility operator, said in a statement on Feb. 25 that it will accelerate its expansion in Southeast Asia and beyond after raising a successful $93 Series B round. Extensive Asia Pacific expansion and addition of its model offerings. million.
Founded in 2018, the company provides electric scooters and e-bikes on a shared basis and currently operates in 35 cities in Australia, New Zealand, Singapore, South Korea, Malaysia and Thailand. Users can access Beam’s app to locate a vehicle near them, unlock it to travel, and place it in any public location once they reach their destination.
“Pay-as-you-go” rental charging system
Beam said it implemented IoT and tracking technology to keep vehicles and travel safe. Rentals are charged on a per-minute “pay-as-you-go” basis once the tour begins. In Thailand, Beam operates in Phuket and charges 3 baht ($0.10) per minute, and in Kuala Lumpur the company charges 0.60 ringgit ($0.14) per minute
With this funding, Beam is now looking to expand further into Japan, Indonesia, the Philippines and Vietnam. In addition to the Asia-Pacific region, the company is even considering entering the Turkish market. It also plans to add a new high-tech electric bike model to its lineup.
The latest funding round comes nearly two years after Beam raised $26 million in Series A funding. In 2018, the startup raised $6.4 million in seed funding led by Sequoia Capital India.
Deploy the latest technology to keep drivers and pedestrians safe
Beam says its revenue has grown 15-fold since 2020, and at its current coverage, there is a trip every two seconds. Like other e-scooter and bike companies, Beam implements IoT and tracking technology.
With a planned new scooter model, the company will deploy a new technology called Micro Mobility Enhanced Riding Safety, which helps protect pedestrians and strengthens local governments’ control over places where electric vehicles can park or ride. control. Using on-board cameras powered by artificial intelligence, the system can instantly and accurately detect pedestrians to prevent collisions, identify ideal sidewalks and automatically reduce vehicle speed, or even prevent rides altogether if safety concerns arise.
