Plug-in electric vehicles are practical, comfortable, and are growing in demand. Being less harmful to the environment and requiring electricity as fuel, they are soon going to replace traditional vehicles.
The Electric Vehicle market is expected to reach 26951318 units by 2030 and is growing at a CAGR of 21.1%. The Asia Pacific electric vehicle market is estimated to reach USD 166 billion by 2025, growing at a CAGR of 29.9%. Singapore has set a date to phase out petrol vehicles- 2040, through increased initiatives and charging infrastructure.
The top 10 electric vehicle startups in Singapore are-
- Neuron Mobility
Founders: Zachary Wang
Founding Year: 2016
Headquarters: Singapore
Funding Amount: USD 34.2 million
Investors: Square Peg Capital, GSR Ventures, DIdi, SeedPlus, Seeds CapitalSCB Group, ACE Capital
Neuron Mobility is an app-based platform that provides electric kick scooters for rent. It has its own fleet of scooters. Users can scan the QR code to unlock the vehicle. Customers are supposed to make an online payment and click a picture of the scooter parked at an appointed place at the end of the trip. It also provides charging stations for kick scooters. It has around 50 employees.
- Beam
Founders: Alan Jiang, Deb Gangopadhyay
Founding Year: 2018
Headquarters: Singapore
Funding Amount: USD 33.4 million
Investors: AppWorks, K32 Global, Founders Fund, Sequoia Capital, ZhenFund, Right Click Capital, MDI Ventures, Hana Financial Ventures, RTP Global, Redbadge Pacific
Beam is an app-based e-scooter company. Users can use the application to make payments, locate, book, and unlock the scooters. It encourages users to park the scooters in predetermined parking lots via its app by offering incentives, instead of parking them randomly on streets. Its application is available both on iOS and Android. It currently has 66 employees.
- GCoreLab
Founders: Poh Lee, Wai Kung
Founding Year: 2010
Headquarters: Singapore
Funding Amount: USD 482K
Investors: Red Dot Ventures, National Research Foundation
GCoreLab is a cleantech thermal management company.it is engaged in the research and development of thermal management systems for the next generation of electric vehicles. It has its cooling system patented which depends on cooling plates. The company claims that its “oblique fin technology” can achieve 50-80% better results as compared to liquid cooling while using the same amount of energy. Its engineering team has worked at OEMs in China and Singapore.
- Floatility
Founders: Oliver Risse
Founding Year: 2013
Headquarters: Hamburg, Germany
Funding Amount: Not Disclosed
Investors: Avalerion Capital, IFB Innovationsstarter
Floatility is focused on developing a personal urban electric mobility solution for short distances. The product of the company is the “efloater”, which is smartphone-enabled and is powered by the sun. Other features provided by the company are e scooter and fleet management system. The company has its offices in Hamburg and Singapore.
- Telepod
Founders: Jin Ni Gan, Jit Yen Chan, Jit Yen Chan
Founding Year: 2016
Headquarters: Singapore
Funding Amount: Not Disclosed
Investors: Bravio Capital, Quest Ventures, SMRT Ventures
Telepod is a technology developer for micro electric vehicles with a battery station network. The mobile application provides users to locate, unlock and book on-demand kick scooter rentals. It has a patented ‘Proxima Technology”. The company operates a stationed-based service with designated pick-up and drop-off points. Both iOS and Android apps are available.
- Durapower Technology
Founders: Kelvin Lim
Founding Year: 2014
Headquarters: Singapore
Funding Amount: Not Disclosed
Investors: Evia Capital Partners
Durapower Technology is a Lithium-Ion based battery system developer for automotive and energy storage systems. The batteries manufactured by the company are used in electric mobility and stationary energy storage systems like a fully electric vehicle, hybrid electric vehicle, specialty-electric vehicle, renewable energy storage, Uninterrupted Power Supply, telecom energy.
- PopScoot
Founders: Kelvin Emmanuel Ng
Founding Year: 2017
Headquarters: Singapore
PopScoot is easy, fun, and affordable to use that is available at any time of the day. It is an electric scooter share platform with dock stations available around the whole country. Users can book the scooters at a pickup location and a parking lot at the drop-off location. Users can unlock the scooter using Bluetooth. Locations for dropping off the scooters have to be decided before starting the ride. It also offers a usage-based reward system that includes perks at selected retail outlets.
- Sooorya Electric Vehicles
Founders: Christie Fernandez
Founding Year: 2017
Headquarters: Singapore
Sooorya Electric Vehicles aims at providing affordable, comfortable, and eco-friendly last-mile transportation in the developing world. The company is developing an 8 seater electric shuttle for suiting the needs of ride-sharing customers which would be powered by swappable solar rechargeable batteries. This model is a light business model which is made for agile operations and increased profitability.
- Scootbee
Founders: Sim Kai
Founding Year: 2017
Headquarters: Singapore
Funding Amount: Unfunded
Scootbee is an on-demand electric scooter-sharing service. The company provides custom-made autonomous scooters that can be booked through the ScootBee mobile app. After booking a scooter, the nearby scooter automatically reaches the customer. The scooter has automatic driving capabilities that allow it to find the next customer and park itself at a safe and convenient place.
- Arc Boards
Founders: Ho Hung, Toh Wei De, Tan Yong Sheng
Founding Year: 2016
Headquarters: Singapore
Arc Boards is the world’s smallest and lightest electric skateboard. The skateboard weighs 3.5 kg and measures 56 cm in length. The range of the vehicle is 18 cm and the speed is 25 kmph. It uses a lithium iron phosphate battery pack with an inbuilt battery management system. The startup has solved the problem which already existing skateboards had- their massive size. With small and compact arc boards, they can be carried anywhere be it a bus or a train. There are 20 pre-production Arc Boards running in Singapore.
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