Micromobility operator Beam raised $93 million in a Series B led by Affirma Capital where Sequoia Capital India, Hana Ventures, ICT Capital, EDB Investment (EDBI), AC Ventures, RTP Global and Momentum Venture Capital also participated.
Beam currently operates e-scooters and e-bikes in 35 cities throughout Malaysia, Thailand, South Korea, Australia, and New Zealand, with plans to expand into markets such as Japan, Indonesia, the Philippines, Vietnam, and Turkey. The new funds will allow Beam to accelerate the deployment of its new 5th generation Beam Saturn e-scooter, which the company plans to launch in the second half of this year. Beam also plans to introduce a new e-moped, the Beam Pluto, in the second half of this year, and expects e-mopeds to account for up to one-third of its fleet over the next two years.
“Our goal is to shift ‘single person journeys’ onto shared small electric vehicles, which are step function more environmentally friendly for cities and cost-efficient for consumers,”Jiang told.
“We are excited to serve new markets and journeys with our Beam Pluto e-moped and to bring our 5th generation Beam Saturn e-scooter to cities with MARS technology that will provide significant advancements in safety, city zoning control, rider behavior management and sustainability,” said Deb Gangopadhyay, chief technology officer of Beam. “We’re particularly proud of the innovations we’ve created to reduce risks to pedestrians with the Beam Pedestrian Shield, an onboard AI camera that can instantly and accurately detect pedestrians to prevent collisions and detect footpaths to automatically reduce vehicle speed or even prevent riding completely.”