Participated · Seed · Dec 2018

Neuron Mobility operates a shared e-scooter service and builds its own hardware, software and IoT systems rather than buying scooters off the shelf. The company, founded in 2016, runs services in 26 cities across Australia, New Zealand, South Korea, the U.K. and Canada, with sizable market dominance in Australia where it is present in every capital city. Neuron has developed proprietary technologies including an in-house ADAS "e-scooter brain" that detects and corrects unsafe riding behavior; that system is being trialed on 1,500 scooters in Australia, Canada and the U.K. The company said it will use new capital to invest in its proprietary technology and accelerate rollout of the e-scooter brain in more cities. Neuron’s expansion strategy focuses on regulated markets and pursuing exclusive or semi-exclusive operator relationships rather than competing in multi-operator, 'free-for-all' cities. Neuron Mobility operates a rental e-scooter business with scooters designed for sharing (swappable batteries, geofencing and a Helmet Lock feature). The company is present in nine locations including Auckland and several Australian cities and says it is the leading electric scooter rental operator in Australia and New Zealand. Usage metrics during COVID-19 show average trip distances up 23% to 2.6 km and average ride durations up 10% to more than 14 minutes. Pricing varies by market (example: Brisbane charges A$1 to start and A$0.38 per minute) and its scooters can reach about 25 km/h (15.5 mph). Neuron plans to expand into five new cities over the next 12 months, hire about 400 people across Australia, New Zealand and Singapore, and launch its first UK location in Slough by year-end. The company says the pandemic has fast-tracked adoption of micromobility and is accelerating its rollout accordingly. Neuron Mobility operates an eponymous e-scooter rental platform that has expanded from Singapore into cities in Malaysia, Thailand, Australia and New Zealand. Its scooters are designed by the company, produced by a Chinese manufacturer, have swappable batteries, can travel up to 60 kilometres on a single charge and reach speeds of up to 25 km/h with automatic slow-downs in sensitive areas. Riders can end trips at parking stations or any suitable location, and Neuron uses local battery-swapping teams to maintain operations. The company halted its Singapore service amid recent regulatory changes there but retains teams in the country while focusing on other markets. Neuron plans to use new capital to deepen its footprint in existing markets, explore new markets and build additional mobility categories. The startup has raised roughly $23.5 million to date. Neuron Mobility operates dockless electric scooters, deploying fleets for short urban trips and integrating geofencing to enforce parking rules. The company raised a SG$5 million (US$3.7 million) seed round to explore overseas growth and has been operating in Singapore since last year. At its peak Neuron ran around 1,000 scooters in Singapore; the fleet has been reduced to a few hundred while the startup awaits new local regulation. Neuron has begun regional expansion with deployments in Bangkok and Chiang Mai and plans to enter Malaysia before year-end, with wider Southeast Asia and Australia-like cities targeted later. The company is developing a bespoke "next-gen" scooter and plans a "ride responsibility" safety campaign. It charges a US$5 fee for improper parking detected by geofencing to cover repositioning costs and expects to raise another funding round possibly in the first half of 2019.

Participated · Series C · Jan 2018

Founded in Singapore in 2014 as a last-mile express logistics company, Ninja Van has grown into a tech-enabled regional e-commerce logistics provider. The company connects over 1.5 million active shippers to nearly 100 million recipients across Singapore, Malaysia, Indonesia, Thailand, Vietnam and the Philippines. It employs more than 61,000 staff and delivery personnel and handles around 2 million parcels a day across the region. Ninja Van said it will invest its fresh funds to build infrastructure and its technology platform, including creating micro-supply-chain solutions to help Southeast Asian businesses optimize e-commerce. The company raised $578 million in its latest funding round, making it Singapore’s newest unicorn and marking its largest fundraising since inception. Bloomberg reported the round will lift Ninja Van’s valuation above $1 billion and that the company is preparing for an initial public offering as soon as next year; Ninja Van declined to comment on the valuation. Ninja Van operates an e-commerce parcel delivery network across Singapore, Malaysia, the Philippines, Indonesia, Thailand, and Vietnam. The company claims it delivers more than a million packages and works with major merchants including Shopee, Lazada and Tokopedia. It is a six-year-old, Singapore-based startup. Ninja Van secured an additional $279 million in a Series D, bringing total capital raised to about $400 million to date. An analysis tied to this round suggests a valuation of about $750 million. The company said it will use the fresh capital to push further into the business-to-business sector and to grow its other existing services. Ninja Van is a Singapore-based, technology-enabled last-mile logistics operator that provides delivery solutions to businesses of all sizes. Launched in 2014 by Lai Chang Wen, the company began operations in Singapore offering parcel tracking, real-time updates and alternative pickup points. It has expanded its network across Southeast Asia and now operates parcel delivery networks in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam. In January 2018 Ninja Van raised US$87m in a Series C financing. Backers included DPDgroup, ACE Capital and other investors. The company intends to use the funds to improve its technology and operational capabilities. Ninja Van is a Singapore-based last-mile logistics provider offering a plug-and-play, cloud-powered delivery platform for e-commerce companies across Southeast Asia. It operates a primary fleet in each city augmented by a crowdsourced reserve fleet supplied by taxi drivers, the public, and partner startups, and offers its fleet management system to partners in exchange for surge capacity. The company is currently active in Singapore, Malaysia, Indonesia and Vietnam, serving about 3,000 customers (including Lazada and Zalora) and completing roughly 15,000 deliveries per day. Management says the firm is profitable in some large cities. With $30 million in new Series B funding, Ninja Van plans to expand into Thailand and the Philippines before August and to push beyond tier-one cities into tier-two and tier-three locations. The financing will also support development of specialized services—cash-on-delivery, deliveries to out-of-reach places, and economically-priced options—to help broader e-commerce growth across the region. The company views Abraaj's regional network as a strategic asset to help open partnerships and markets.

Participated · Series A · Sep 2017

ReWork operates collaborative co-working spaces and membership services, targeting established companies and corporate clients as its core customer base. The startup currently runs two locations in Jakarta and plans to add four more in the city within six months, with subsequent expansion to Bali and Bandung and potential moves into the Philippines and Malaysia next year. Its typical commercial model is revenue-sharing with property owners, and it is negotiating joint ventures with larger real estate firms to scale more rapidly. ReWork has a partnership to open small outposts alongside commercial property group Ismaya to broaden member access and reach new demographics. The company says it will integrate technologies and apps with strategic investor UrWork, and investors have praised its rapid member and revenue growth, healthy margins, and strong retention. ReWork is positioning itself as a landing platform for Chinese companies entering Indonesia and to support both local and overseas firms through its collaborative workspace network.

Participated · Seed · Jan 2017

Pulpix is an AI-powered platform that delivers personalized video recommendations for websites and publishers to increase viewer engagement and revenue. Its core product includes an intelligent dashboard that provides audience insights, video inventory management, customizable recommendation look/frequency/type, and real-time analytics on views, time spent, revenue, ad impressions, locations, and devices. The platform uses audio recognition and metadata analysis to extract video topics at specific times and to understand viewer behavior in real time. Pulpix works with about 50 publishers, including GQ France, L’Équipe, and Prisma Media. The company is a Y Combinator startup co-founded by Sabry Otmani (CEO) and Denis Vilar (CTO) and operates out of Paris and New York City. It raised $850k in pre-seed funding to increase product development and hiring.