Singapore-based micromobility startup to boost expansion across Asia-Pacific
Beam, a shared micromobility operator founded and headquartered in Singapore, said in an announcement on February 25 that it will accelerate its expansion across Southeast Asia and the wider Asia-Pacific region and increase its model offerings after a successful Series B funding round that raised $93 million.
The company, founded in 2018, is offering electric scooters and electric bikes on a sharing basis, currently operating in in 35 cities across 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 drop it off at any public location once they have reached their destination.
“Pay-as-you-ride” rental fee system
Beam says it implements Internet-of Things and tracking technology to make sure the vehicles and trips are safe. Rental fees are charged on a “pay-as-you-ride” basis per minute as soon as the trip starts. In Thailand, where Beam operates in Phuket, charges are three baht ($0.10) per minute, in Kuala Lumpur, the company takes 0.60 ringgit ($0.14) per minute
With the funds, Beam is now looking to expand further into Japan, Indonesia, the Philippines and Vietnam. Beyond Asia-Pacific, the company even looks into entering the Turkish market. It also plans to add a new high-tech e-bike model to its lineup.
The latest round of funding comes almost two years after Beam raised $26 million in a Series A funding round. In 2018, the startup raised $6.4 million in seed funding led by Sequoia Capital India.
Latest technology deployed to ensure driver and pedestrian safety
Beam says that it has grown revenue by 15 times since 2020, and with its current reach, a trip takes place every two seconds. Like other electric scooter and bike companies, Beam implements Internet-of Things and tracking technology.
With the planned new scooter model, the company will deploy a new technology called “micromobility augmented riding safety” that helps protect pedestrians and enhance local governments’ control over where e-vehicles can park or ride. The system is using an onboard camera powered by artificial intelligence that instantly and accurately detects pedestrians to prevent collisions, identifies ideal footpaths and automatically reduces vehicle speed or even prevents riding completely in case of a safety issue.
Beam, a shared micromobility operator founded and headquartered in Singapore, said in an announcement on February 25 that it will accelerate its expansion across Southeast Asia and the wider Asia-Pacific region and increase its model offerings after a successful Series B funding round that raised $93 million. The company, founded in 2018, is offering electric scooters and electric bikes on a sharing basis, currently operating in in 35 cities across 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 drop it off at any...
Beam, a shared micromobility operator founded and headquartered in Singapore, said in an announcement on February 25 that it will accelerate its expansion across Southeast Asia and the wider Asia-Pacific region and increase its model offerings after a successful Series B funding round that raised $93 million.
The company, founded in 2018, is offering electric scooters and electric bikes on a sharing basis, currently operating in in 35 cities across 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 drop it off at any public location once they have reached their destination.
“Pay-as-you-ride” rental fee system
Beam says it implements Internet-of Things and tracking technology to make sure the vehicles and trips are safe. Rental fees are charged on a “pay-as-you-ride” basis per minute as soon as the trip starts. In Thailand, where Beam operates in Phuket, charges are three baht ($0.10) per minute, in Kuala Lumpur, the company takes 0.60 ringgit ($0.14) per minute
With the funds, Beam is now looking to expand further into Japan, Indonesia, the Philippines and Vietnam. Beyond Asia-Pacific, the company even looks into entering the Turkish market. It also plans to add a new high-tech e-bike model to its lineup.
The latest round of funding comes almost two years after Beam raised $26 million in a Series A funding round. In 2018, the startup raised $6.4 million in seed funding led by Sequoia Capital India.
Latest technology deployed to ensure driver and pedestrian safety
Beam says that it has grown revenue by 15 times since 2020, and with its current reach, a trip takes place every two seconds. Like other electric scooter and bike companies, Beam implements Internet-of Things and tracking technology.
With the planned new scooter model, the company will deploy a new technology called “micromobility augmented riding safety” that helps protect pedestrians and enhance local governments’ control over where e-vehicles can park or ride. The system is using an onboard camera powered by artificial intelligence that instantly and accurately detects pedestrians to prevent collisions, identifies ideal footpaths and automatically reduces vehicle speed or even prevents riding completely in case of a safety issue.
