US-based Superpedestrian, a venture-backed company developing lightweight electric vehicles with integrated online platforms, secured US$ 60M funding on 21 December 2020.

Superpedestrian has received major financial backing from Citi Impact Fund, OurCrowd, Winthrop Square Capital and others. Superpedestrian has raised US$ 78.7M to date.

The funding will be utilized to fuel the growth of its LINK scooter fleet equipped with unique On-Board Intelligence and an active safety system.

About Superpedestrian

Founded in 2012 by Assaf Biderman, Superpedestrian is a transportation robotics company that was founded out of MIT. The company develops technologies for micro-electric vehicles that optimize safety, reliability and performance. Superpedestrian had spent over 5 years to develop its proprietary Vehicle Intelligence system. Superpedestrian has focused its efforts on engineering and validating its new electric LINK scooter for shared fleets. Superpedestrian’s LINK scooter can detect and protect against more than 100 common malfunctions. It’s embedded computers and cloud software enable Superpedestrian’s scooters to protect from damage during and between rides. Its scooters can detect potential problems within nanoseconds, such as battery fires, short circuits, or failed brakes and take corrective action.

“While other companies treated cities as test labs, we invested years in the technology behind LINK before we applied for a single city permit. Now, leading investors like Citi and major cities around the world are seeing what we can do, and are choosing LINK. We are showing what it means to provide a truly safe and inclusive service as we bring new transportation options to neighborhoods in need,” said Superpedestrian founder and CEO Assaf Biderman.

Superpedestrian is operating the LINK scooter in markets across the U.S. and Europe. It has patented more than 30 electric vehicle technologies that have resulted in the only e-scooter with onboard intelligence, giving LINK scooters a competitive advantage in safety and reliability. Superpedestrian expanded to 12 cities in 2020. It claims that LINK scooters have a record in the industry of no severe injuries, no defects, no lawsuits, no censures from cities and the lowest vehicle loss rate of any operator.

What Investors have to say

“Superpedestrian’s LINK fleet aims for the double bottom line we look for through the Citi Impact Fund, benefitting both communities and investors. They’ve taken time to get the technology right, the growth has been sustainable and their product is profitable. As the density of cities increases, there is a huge demand for safe, sustainable transportation options and we’re excited to partner with Superpedestrian, especially given our support of the country’s largest bike-share program, Citi Bike,” said Ed Skyler, Citi’s Executive Vice President for Global Public Affairs.

“Superpedestrian’s dramatic technology lead in the scooter market is translating into business leadership. Because the platform is safer and smarter, LINK has better unit economics than any competitor,” said OurCrowd CEO Jon Medved.

Previous articleThe journey of Quora
Next articleUK based Beckley Psytech secured £14 million funding
Komal writes about the startup ecosystem on VCBay. She is an Economics Hons. graduate from Miranda House, Delhi University, and is passionate about the world of entrepreneurship and finance.

LEAVE A REPLY

Please enter your comment!
Please enter your name here