Beam, the Singaporean micromobility operator, announced today that it has raised $ 93 million in the Series B cycle to accelerate growth in new Asian countries.
The new capital, bringing in total funding of up to $ 135 million, was led by Affirma Capital, with the participation of Sequoia Capital India, Hana Ventures, ICT Capital, EDB Investment (EDBI), AC Ventures, RTP Global and Momentum Venture Capital. Series B brings the Beam value to three digits, said Beam CEO and founder Alan Jiang who declined to give specific numbers.
Beam, currently using scooters and e-bikes in 35 cities in Malaysia, Thailand, South Korea, Australia and New Zealand, aims to spread to markets such as Japan, Indonesia, Philippines, Vietnam and Turkey.
In addition, the new capital will enable Beam to promote the deployment of a 5th generation e-scooter by Beam Saturn, a company that intends to launch it in the second half of this year. The next generation motorcycle will come with an updated version of the Beam safety platform, called Micromobility Augmented Riding Safety (MARS), which helps protect pedestrians and improves local government control where e-cars will be able to park or ride on them, Jiang said.
The technology available on the platform includes dead count and on-edge geofencing, but the 5th gen Saturns will feature a Beam Pedestrian Shield, ”an indoor AI camera that can quickly and accurately detect pedestrians to prevent collisions and detect foot traffic automatic reduction of vehicle. speed or restrict ride altogether, ”said Deb Gangopadhyay, Beam’s chief technology officer.
Beam says its computer-based on-board camera will be released at Q3 level this year, but did not answer questions ahead of time whether the new feature will be available to all Gen 5s or test technologies. in certain places. The company also did not respond in advance to requests for clarification on whether the Pedestrian Shield was built indoors or not, or whether Beam was working with a supplier.
For example, the American micromobility company Spin works with Drover AI, a computer vision launcher, driving camera-based security systems in a few markets, and European operator Voi doing the same with Luna in the UK.
In addition to the new technology, Saturn will also have 12 inch wheels that are 20% larger than all scooter wheels combined with hydraulic suspension. Saturn has fully rechargeable batteries with enough capacity for 110km, double the e-scooter battery capacity, to improve stability, according to the company..
Beam plans to add a new e-moped to its car portfolio, the Beam Pluto, in the second half of this year, and expects e-mopeds to assemble one-third of its fleet over the next two years, Jiang said. in an email interview.
Beam earnings have seen a 15-fold increase since 2020, says Jiang, despite facing travel restrictions caused by the Covid-19 epidemic, but the CEO did not provide a basis for such growth. When asked about tightening micromobility laws in some Asian countries, Jiang told Referus that Beam works closely with regulators in all areas of the company’s operations to provide safe and sustainable shared micromobility and Beam balancing automotive goods in between. of places depending on delivery opportunities. Micromobility is widely regarded as an important means of transportation throughout Asia, and the associated regulatory frameworks are maturing, he noted.
“Our goal is to transform the ‘one-man’ trail into shared electric vehicles, which are environmentally friendly and cost-effective measures for consumers,” Jiang told Referus.
This article has been updated to reflect new information from Beam.