Beam to Utilize 'Designated Parking Zone Model' Development and Launch 'Beam Saturn' in Asia-Pacific Region
Shared electric scooter service Beam announced on June 2 that it has closed its Series A funding round to continue leading the largest mobility industry in the APAC region, including Australia, New Zealand, and Korea.
This $26 million (approximately 32 billion KRW) investment round was led by Hana Ventures and Sequoia India, with Redbadge Pacific participating as a co-investor.
Leading the Asia-Pacific (APAC) micro-mobility industry and continuously innovating the personal mobility sharing economy, Beam plans to open a new horizon in the micro-mobility industry by moving away from the existing “dockless parking model.”
Beam is seeking the future of the mobility business in the “designated parking zone model,” which encourages users to park their vehicles in designated parking zones by offering various benefits through a mobile app.
Alan Jiang, Beam’s co-founder and CEO, recently expressed gratitude to investors supporting the designated parking zone model and the new future of the micro-mobility industry that will be built through it, despite uncertain market conditions.
CEO Alan Jiang expressed expectations for the designated parking zone model, proposed as a solution to problems caused by electric scooters throughout the city, stating, “Beam can contribute to reducing operating costs, increasing usage rates, and organizing the city.”
Beam’s operations and development departments will focus more on expanding service areas and improving urban convenience. To this end, Beam plans to sequentially release features that help enhance the safety of parked electric scooters and focus on pedestrian safety to also improve device loss rates.
Beam’s co-founder and CTO Deb Gangopadhyay said, “Beam is working not only to improve user experience but also to alleviate inconveniences for non-users and citizens,” adding, “The success of new technology depends on public acceptance. Only when electric scooters are properly ridden and parked will they be welcomed by all city residents.”
He added, “Beam has set business directions and development goals considering coexistence with the city, which will be the difference between Beam and other micro-mobility companies.”
Seokwon Choi, Director of Hana Ventures and Head of Overseas Investment, who led the investment in Beam, said, “Beam’s core in-house team has experienced the growth phase of global mobility companies, focusing on business profitability and country-specific challenges from the establishment stage,” and added, “The electric scooter industry is moving past its infancy, with advancements in hardware and software. We believe that the synergy between the promising industry environment and Beam’s operational capabilities will lead to greater growth.”
Based on this investment, Beam plans to continue leading the largest mobility industry in the APAC region, including Korea, Australia, Malaysia, New Zealand, and Taiwan. Additionally, to operate a business that prioritizes the safety of users and pedestrians, Beam will run the “Beam Safe Riding Academy” program and establish various online education and offline electric scooter training systems.
Beam plans to introduce the Beam Saturn, its self-developed scooter, to all markets as soon as possible. The Beam Saturn is a shared riding scooter verified for safety through strict standards, featuring a replaceable battery, a frame made of aerospace aluminum material, 25 cm high-performance tubeless tires, and a dual rear brake system with high grip.
Meanwhile, Beam is also the only shared electric scooter service in the APAC region certified as climate neutral.
Beam collaborated with Climate Neutral, a private nonprofit climate neutrality certification organization, to measure greenhouse gas emissions for the year 2019 and offset its carbon footprint by investing in environmental conservation projects. To this end, Beam invested in carbon emission reduction and atmospheric greenhouse gas removal projects such as renewable energy development and forestation.
Going forward, Beam will continue plans to reduce carbon emissions, placing sustainability as a core value.
Currently, Beam is making various quarantine efforts, including disinfection, to respond to and prevent the spread of COVID-19. Transportation modes like electric scooters, which can be used in open spaces, are gaining attention as new transportation options in the COVID-19 era due to their accessibility and safety.
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