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

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


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

The contemporary 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, based on Beam CEO and co-founder Alan Jiang, who declined to offer actual numbers. 

Beam, which presently 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-generation Beam Saturn e-scooter, which the corporate intends to start out rolling out within the second half of this yr. The subsequent-gen scooter will include an up to date model of Beam’s security platform, dubbed Micromobility Augmented Driving Security (MARS), which helps shield pedestrians and improve native governments’ management over the place e-vehicles can park or experience, stated Jiang. 

Present applied sciences throughout the platform embody lifeless reckoning and on-edge geofencing, however the fifth-generation Saturns could have a function known as Beam Pedestrian Protect, “an onboard AI digicam that may immediately and precisely detect pedestrians to forestall collisions and detect footpaths to mechanically cut back car pace and even forestall using utterly,” based on Deb Gangopadhyay, chief expertise officer of Beam.

Beam says its onboard digicam with pc 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 associate, a spokesperson at Beam advised 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 number of markets, and European operator Voi is doing the identical with Luna within the U.Ok.

New tech apart, the Saturn may also function 12-inch wheels which can be 20% bigger than the typical e-scooter wheels mixed with hydraulic suspension. The Saturn has totally swappable batteries with enough capability for 110 km of using vary, double the typical e-scooter battery capability, to additional enhance sustainability, based on 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 following two years, Jiang stated in an electronic mail interview. 

Beam

Beam’s MARS expertise. Picture Credit: Beam

Beam’s income has seen 15x development since 2020, based on Jiang, regardless of experiencing mobility restrictions attributable to the COVID-19 pandemic, although the CEO didn’t present a baseline for that development. When requested about tightening rules on micromobility in some Asian nations, Jiang advised TechCrunch that Beam works very intently with regulators in all geographies the corporate operates in to offer secure and sustainable shared micromobility, including that 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 objective is to shift ‘single-person journeys’ onto shared small electrical autos, that are step perform extra environmentally pleasant for cities and cost-efficient for shoppers,” Jiang advised TechCrunch. 

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

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