Beam, Asia-Pacific's leading micromobility operator, has raised $26 million in Series A funding to expand its innovative 'virtual docked' scooter model across key markets.

Information on the Target

Beam is recognized as Asia-Pacific’s leading micromobility operator, specializing in shared electric scooters. This innovative company distinguishes itself with its unique 'virtual docked' model, which mandates that riders park their scooters at predetermined locations, thereby reducing urban clutter and improving city aesthetics. Recently, Beam successfully raised US$26 million in a Series A funding round, an effort led by prominent investors including Sequoia India and Hana Ventures, along with support from Cherubic and AppWorks.

The company's focus remains on enhancing user experience and operational efficiency. By integrating technology that incentivizes proper scooter parking through the Beam mobile app, Beam aims to foster community acceptance and streamline their operations. Their efforts also include providing safety measures for pedestrians and maintaining high scooter retention rates.

Industry Overview in the Target’s Specific Country

The shared micromobility sector has emerged as one of the fastest-growing industries globally, with particular vigor in the Asia-Pacific region. The increasing urban population, coupled with growing concerns about traffic congestion and pollution, propels demand