An electric bus startup in Kenya has just raised $6.6 million from international investors, bringing its total raised since its launch last year to $10.9 million.
The investment round was managed by Mobility54, the venture capitalisation arm of Toyota Tsusho, and Novastar Ventures, a global venture capital firm supporting entrepreneurs who are changing the markets in Africa.
Thrilled to have the backing of investors
Jit Bhattacharya
BasiGo can begin business-based delivery of locally manufactured electric buses and charging infrastructure using its unique pay-as-you-drive financing system, which “makes it possible for bus owners to acquire the electric buses for a similar upfront cost of a diesel one,” said CEO Jit Bhattacharya.
In the course of its fleets with the Nairobi operating companies Citi Hoppa and East Shuttle, BasiGo’s electric buses have traveled more than 110.000 miles. The buses have transported about 140.000 passengers.
BasiGo plans to deliver 15 of its 100 electric buses to Nairobi in January next year after completing a six-month pilot program.
The company will also be expanding its charging infrastructure with a first focus on Nairobi, where mainly its customers are active.
Strongly believe in the potential
Takeshi Watanabe
“We strongly believe in the potential of electric buses in Africa,” Takeshi Watanabe, CEO of Mobility54, says in a statement.
