Beam

History

2022: Raising $93 million, including from Leonid Boguslavsky Foundation

At the end of February 2022, the Singapore electric scooter rental service Beam announced a Series B funding round of $93 million. The funds raised will be used to bring vehicles and technologies to other markets, such as Japan, Indonesia, the Philippines, Vietnam and Turkey.

The round is headed by private investment Affirma Capital, in it also took part of Sequoia Capital India, Hana Ventures, ICT Capital, EDBI, AC Ventures and Leonid's fund BoguslavskogoRTP Global, as well as other small investment firms. Beam is engaged in its business in the Asia-Pacific region, the company plans to become the first trimodal micromobility operator in the region, including vehicles in the form of electronic mopeds in its portfolio.

Leonid Boguslavsky

Beam will use the funds to further expand its security suite by implementing Micromobility Augmented Riding Safety (MARS), which includes advanced security solutions. MARS protects pedestrians by increasing control over urban area for zoning and parking, and promotes safer use of vehicles in cities.

We look forward to new markets and travel with our Beam Jupiter electronic moped, as well as the introduction of our 5th generation Beam Saturn e-scooter with MARS technology in cities, which will ensure significant progress in safety, urban zoning control, cyclist behavior management and sustainability. We are particularly proud of the innovations we have created to reduce risk to pedestrians with the Beam Pedestrian Shield (BPS), an on-board camera with artificial intelligence that can instantly and accurately detect pedestrians to prevent collisions. The BPS system is able to detect footpaths to automatically reduce the speed of the vehicle or even completely prevent traffic, said Deb Gangopadhyay, co-founder and chief technical officer of Beam.

Despite disruptions caused by the mobility constraints associated with COVID-19, demand for micromobility in the Asia-Pacific region continues to grow and Beam revenues have increased 15-fold since the onset of the coronavirus pandemic (COVID-19). The company works with local governments in cities to ensure safe and sustainable co-mobility, as their communities are interested in cleaner and more sustainable ways of moving.^[1]

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