Electric scooter brand Superpedestrian has announced its largest ever funding round, closing $125 million in debt and equity capital.
The new funding will be used to expand the LINK shared e-scooter service, boost the company’s advanced R&D programs, and deploy scooters with Superpedestrian’s new Pedestrian Defense safety system in the first 25 cities across the US and Europe during 2022. The AI-based software fuses data from multiple vehicle sensors and integrates them with the scooter’s on-board Vehicle Intelligence to take real-time action on the scooter.
According to Superpedestrian, its ‘Pedestrian Defense’ system detects vehicle positions more precisely even in urban canyons where GPS has high inaccuracy. It can also detect an array of unsafe riding behavior, including sidewalk riding, stunt riding, aggressive swerving and salmoning against traffic. As well as this, the software can intervene automatically to slow or stop a scooter in real time when unsafe behaviour like riding on a sidewalk is detected.
Following successful field tests of Pedestrian Defense in recent months, the system will now be integrated into Superpedestrian’s technologically advanced LINK e-scooter fleet, which has launched in 57 cities logging tens of millions of miles.
Jean Andrews, policy director of Superpedestrian for UK and Ireland, said: “Superpedestrian is on a successful mission to build and operate the safest and most comfortable shared e-scooter on the market. LINK is the only e-scooter available today with the technological capacity to run the Pedestrian Defense system. This funding will strengthen our position as a world-leader in the next generation of safety technologies that safeguard riders, communities and the environment.”
Assaf Biderman, founder and CEO of Superpedestrian, added: “Over the past 9 years, we have developed a unique software platform that addresses the core challenges of electric vehicle fleets. From predictive-maintenance and repair automation to fine-grain locationing and curb management, our platform is rich with advanced capabilities that enable safer and more reliable transportation solutions.”
The latest investment comes from Jefferies, Antara Capital, the Sony Innovation Fund by IGV and FM Capital alongside existing backers like Spark Capital, General Catalyst and Citi via the Citi Impact Fund.
Gen Tsuchikawa, chief investment manager for Sony Innovation Fund (SIF) and CEO and chief investment officer for Innovation Growth Ventures (IGV), also said: “Superpedestrian brings together best-in class vehicles, an advanced software platform, and efficient fleet operations, enabling them to safely integrate small electric vehicles into crowded city streets.