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Beam Scores Funding to Bring E-Scooters to Singapore

  • Beam snagged $6.4 million from Sequoia India and others
  • Startup intends eventually to explore other Asian markets
Beam’s e-scooter.
Beam’s e-scooter.

Source: Beam

Updated on

Singapore’s sidewalks are about to get a lot more crowded. Beam, co-founded by the former Asian chief for Chinese bike-sharing giant Ofo Inc., has raised $6.4 million from investors including Sequoia India to deploy its electric scooters around the island nation.

Beam just closed a seed funding round led by Sequoia India, Founders Fund, ZhenFund and Class 5 Global, Beam said in a statement. Its other backers include Arbor, Insignia, 500 Startups, Gobi and K2 Global. The financing will help bankroll a fleet of e-scooters manufactured by Segway Ninebot, backed by smartphone maker Xiaomi Corp.