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Singapore’s Neuron is taking the slow and steady approach to micromobility –

The Neuron movement in Singapore raised $ 43.5 million in Series B round, bringing the total capital investment to $ 77.7 million. The shared micromobility company based in Australia, New Zealand, South Korea, the UK and Canada will use the funds to invest in unique technologies and will double existing markets, focusing on cities seeking specific or semi-private connections. especially operators, according to Zachary Wang, Neuron founder and general manager.

“Our vision is for the market to be managed by a limited number of operators,” Wang told TechCrunch. “That is the only way to manage a sustainable business as well as a responsible service to the city in the long run.”

Since its inception in September 2020, Neuron has expanded globally to 22 cities, with a large size. market power in Australia, where the operator can be found on the streets of any capital of the country. Although Neuron does not have the full weight of competitors like Lime, Bird and Tier, Wang said Neuron’s expansion strategy is not based on putting motorcycles on the ground anywhere.

“We are taking a global ambition and a global perspective, but we are developing a unique Neuron approach that focuses on highly regulated markets and continues to build and invest in growing portfolio of cities with long-term contracts and limited competition, “said Wang. , noting that the “free-for-all” urban chase that allowed many operators to dump cars on the streets did not lead to profit – or public acceptance of micromobility.

Neuron is not the only company with micromobility looking for limited vendors’ approval and a slow, natural growth plan. Spin, recently taken over by Tier, announced last year that it intends to pursue more private partnerships in the city, and Veo said it has been able to achieve a better unit economy and even profit while developing a more tolerant business model. and lasting.

Neuron also emphasized her commitment to designing and producing her own motorcycles, rather than buying them off the shelf. These days, most micromobility players design their own motorcycles and work with partners like Segway and Okai to produce them.

“We have always taken the painful path of developing high technology, hardware, software, IoT,” Wang said. “It would have been much easier for someone else to buy it all, but we have deliberately taken that path, and now we are seeing the fruits of our labor.”

Last November, Neuron announced the introduction of in-house motorcycle technology ADAS, which uses precise on-site technology and rapid geofence detection to detect and correct unsafe riding behavior, such as aggressive aggression. , jumping, bouncing, tank climbing and leg climbing. The company is currently testing this technology, Neuron calls it the new “electronic brain”, 1,500 motorcycles in Australia, Canada and the UK

The latest investment will help Neuron clear the “brain” of many cities quickly, Wang said.

The Neuron’s B series was co-hosted by GSR Ventures and Square Peg, with participation from Singapore EDBI.