The fast-growing micro-mobility group, Neuron Mobility, has announced its latest round of funding has reached $12 million. The round was led by 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.
The groups says it will use the funds to accelerate its expansion across Australia, New Zealand and the UK.
Neuron currently operates in nine locations including Adelaide, Brisbane, Darwin, Canberra, Townsville and Auckland. It’s also recently announced a launch in Slough, its first UK location. It’s aiming 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 its headquarters in Singapore.
Writing in a blog, the company says: ‘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’.
To read our full interview with Neuron Mobility’s CEO, Zachary Wong, click on the link below.
Keyword: Micro-Mobility Group Neuron Mobility raises $12 Mn in Fresh Funding; Accelerates Expansion