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Beam , a Singaporean shared micromobility operator, announced today that it has raised $93 million in a Series B round to accelerate growth into new countries in Asia. Advanced rider assistance systems: Tech spawned by the politics of micromobility. Singapore’s micromobility startup Beam raises $26 million.
Magna International, a Canadian mobility technology company that builds sensor-based systems for cars like driver monitoring systems and advanced driver assistance systems (ADAS), is entering the micromobility market. Along with the funding, Magna will hold a seat on Yulu’s board of directors.
Understanding the key developments that helped advance micromobility over the past several years can give us valuable insights not only into where the industry is headed, but about how we can successfully shape it to meet the needs of hundreds of millions of current and future riders around the world. . #1:
To keep their heads above the water in the coming years, semiconductor makers should back technologies that power other industries, such as AI/ML, digital services and micromobility, according to McKinsey partners Ondrej Burkacky and Nikolaus Lehmann. Build a solid deck for your quarterly board meetings.
Cliff is headed over to the California Air Resources Board. Micromobbin’ The North American Bikeshare and Scooter Association released its 2021 shared micromobility state of the industry report — and it has some interesting findings. Trips on e-scooters accounted for 49% of total trips taken on shared micromobility.
Bolt Mobility, the Miami-based micromobility startup co-founded by Olympic gold medalist Usain Bolt, appears to have vanished without a trace from several of its U.S. The company acquired in January 2021 the assets of Last Mile Holdings , which owned micromobility companies Gotcha and OjO Electric.
PRIMECAP Management Company, Reinvent Capital, XN, Fidelity Management and Research LLC, Canada Pension Plan Investment Board, Index Ventures and Sequoia Capital, as well as strategic investments from Uber, PACCAR and Volvo Group. ” Investors Clara Brenner, Quin Garcia and Rachel Holt on SPACs, micromobility and how COVID-19 shaped VC.
Uber CEO Dara Khosrowshahi will take a board seat in the newly expanded Aurora. In the past year, Uber has dumped shared micromobility unit Jump, sold a stake in its growing but still unprofitable logistics arm, Uber Freight and acquired Postmates.
Several micromobility companies once operated in my city, but consolidation has reduced that to a small handful. This in-depth industry analysis shows how increased regulation on the local level and changing consumer habits are pushing micromobility providers to adapt and innovate. Image Credits: TechCrunch/Bryce Durbin.
Nova itself is a counterpoint to profit-focused corporate venture capital outfits, and is instead focusing on abilities to collaborate with the LG conglomerate across the board, in a few key verticals: the metaverse, connected healthcare, smart homes, electric vehicles (EV) and the wonderfully fuzzily named tech for good.
The biggest deal this week had to have been German micromobility operator Tier’s acquisition of Spin from Ford. Regardless, this deal not only gives Tier the highest city count of any micromobility operator, but it also gives Tier access to the U.S. Deal of the week. Tier had tried to enter the U.S.
Micromobility ain’t looking so hot these days, either, unfortunately. Governing the governors: The Oversight Board, the advisory group reviewing Facebook’s and Instagram’s content moderation decisions, issued its first annual report this week, Taylor writes. Meanwhile, Duolingo and Coursera have seen their stock values slashed.
Shared micromobility operator Veo has raised $16 million in new funding as the company ramps up its expansion plans in the United States. Veo, which was founded in 2017, has sought venture funding a bit later in the game than other micromobility companies. The Astro 4 is the first shared e-scooter with turn signals, according to Veo.
Micromobility is feeling the pain as well. The respective boards at JetBlue Airways and Spirit Airlines approved a merger agreement at a diluted equity valuation of $3.8 You can also email me at kirsten.korosec@techcrunch.com to share thoughts, criticisms, opinions, or tips. You also can send a direct message to @kirstenkorosec.
Docked charging stations have helped the company almost eliminate the costs that have stunted profitability for dockless micromobility companies, like charging vehicles and maintenance, Cohen of London said. Citi Bike just upped its prices across the board , so a non-member single ride costs $3.99 for a 10-minute ride.
Co-founded in 2019 by ex-Uber executive Dmitry Shevelenko, the company began with a mission of being the operating system for micromobility vehicles , one that uses remote operators to reposition shared electric scooters to locations where prospective riders are or send them back to the warehouse for a charge.
Startup of the Week: NeuReality: Slashing AI costs across the board. As transportation costs go up, it is critical that we support micromobility solutions like shared bikes and scooters, which provide affordable ways to travel in Chicago without needing a car,” says Mayor Lori Lightfoot. More than 4,600 high-tech jobs.
Startup of the Week: NeuReality: Slashing AI costs across the board. As transportation costs go up, it is critical that we support micromobility solutions like shared bikes and scooters, which provide affordable ways to travel in Chicago without needing a car,” says Mayor Lori Lightfoot. More than 4,600 high-tech jobs.
We are seeing many successful Israeli SaaS companies across the board, from marketing and collaboration tools, business intelligence products, to payment systems. Micromobility, autonomous car sensors. What’s your latest, most exciting investment? My latest investment was in a B2B SaaS company that disrupts a huge market.
Bolt had appeared to be on an upward trajectory last year after acquiring the assets of Last Mile Holdings, which opened up 48 new markets to the micromobility operator. However, there’s also space to push micromobility companies to provide more protections. . It’s all very mysterious. Rebecca Bellan. A little bird. Deal of the week.
Next week, Extra Crunch will feature stories on the state of holographic tech in vehicles, the second-life battery marketplace and software plays in the micromobility industry. Superpedestrian might not be a household name, but it is an up-and-coming player in the micromobility world. Image credits : Volkswagen. Ride-hailing.
Micromobbin’ I don’t want to get ahead of myself here, but are we close to reaching the point of no return on our micromobility revolution? All of the stars appear to be aligning towards the potential for exponential growth in micromobility adoption. You also can send a direct message to me at Twitter — @kirstenkorosec.
Micromobbin’ Before we dive in, I just wanted to spotlight a piece from TechCruncher Annie Saunders on why micromobility might only ever just be a fun way to get around , rather than something that can truly augment public transit. You also can send a direct message to @kirstenkorosec. Check it out (TechCrunch+ subscription required).
It’s the shared micromobility operator that has gained a rep for growing at a steady, sustainable pace, rather than moving fast and breaking things? NABSA ’s fourth annual state of shared micromobility report shows that ridership in North America has returned to pre-pandemic levels. Micromobbin’ You remember Veo , right?
Meanwhile in the land of shared micromobility. Populus is partnering with cities and operators like Bolt , Tier and Voi in a European Union-funded, data-sharing initiative that will measure carbon reductions of micromobility. But it’s also an encouraging finding! FreeWire Technologies , the EV charging company, raised $125 million.
Both micromobility and telemedicine seem very crowded at this point, and we believe the current market leaders in these sectors will become the winners. Which areas are either oversaturated or would be too hard to compete in at this point for a new startup? What other types of products/services are you wary or concerned about?
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