IoT Startup Beep Concludes Seed Round

Beep, a Singapore-based Internet of things (IoT) transaction platform startup, has completed its seed round, led by GGV Capital and Wing Vasiksiri.

According to a statement issued by Beep on Aug 17, the round included participation from NUS Technology Holdings (a wholly owned subsidiary of NUS), SUTD Venture Holdings, XA Network, and other prominent angel investors. The funds will be used to improve technical connectivity and build Southeast Asia's largest roaming network, with plans to expand into Malaysia, Thailand, and beyond.

Beep stated that it will continue collaborating with additional charge point operators, vehicle OEMs, and fleets to expand the network collaboratively and on a permission basis.

"Southeast Asia is at a critical juncture in its transition to a fully electric future, with Singapore leading the way due to our relative maturity and charging network density," said Kristoffer Jacek Soh, Beep's Co-Founder and CEO.

"We strongly believe that charging connectivity must be seamless, interoperable, and collaborative in order for mass adoption to succeed," he stated. "Today marks another important step in our mission to build a truly accessible network for the ecosystem," he added.

Beep also announced the successful launch of Southeast Asia's largest electric vehicle roaming (eRoaming) network on August 17 in collaboration with 11 Singapore operators.