Light Ray Ventures took part in Beam Series A round of financing

December 15, 2020

US$30m equity round is led by Sequoia Capital India with the participation of Hanna Ventures and various other investors

Founded by a team with a passion for new mobility, Beam is focused on expanding micro-mobility in Asia and Pacific region beginning with eScooters. As Asian cities continue to grow, Beam will provide urban residents with the opportunity to take ownership of their transportation options. A Beam trip allows you to move efficiently, reduce your environmental footprint, and have fun as you go from here to there – how you want and when you want

«I am excited to partner with Light Ray Ventures at this stage of the journey as we share the same thesis on the future of eScooters sharing and micro-mobility in our target markets. I believe the vertical is now well positioned to the growth capital injections, both in equity and debt form, and to scale in 2021 after the shortcomings of the early years were overcome»

Alan Jiang

Co-Founder & CEO

«We envisage micro-mobility as an integral part of the future Smart Cities Infrastructure where the target will be that most of the commutes should take not more than 15-20 minutes», said Light Ray Ventures CEO and Managing Partner Alex Tsyplakov. «The 2020 year was a challenging year but pivotal for the sector as it evidenced that (despite COVID and on the back of new durable eScooter models) the business is working very well economically, showing solid positive margins», he added»

About Beam

Beam is Asia’s largest and fastest growing micromobility startup, focused on improving first / last mile mobility in cities. After launching in 2018, Beam eScooters and eBikes are available for rent across 11 cities in 4 countries in Asia, including Malaysia, South Korea, Australia, and New Zealand