89% of Singaporean shoppers have left a store in the past year because queues were too long.
Beam’s seed funding round is led by Sequoia India, Founders Fund, ZhenFund, and Class 5 Global.
VC investment in Asia skyrockets, reaching US$12.7 billion; China rebounds from 1Q17 with resurgence of mega-deals.
The funding round was led by Alibaba Group, Hony Capital and Citic Private Equity.
Only 2,716 deals completed globally in Q1 2017 compared to 3,201 in Q4 2016.
Mobike has set its sights on Singapore and even Europe, after it raised US$215 million Series D financing round.