A Kenyan e-mobility startup focused on electric motorcycles and battery-swapping technology.
African EV Startup ARC Ride Raises $33 Million to Expand Battery-Swapping Network
ARC Ride raised $33.3 million for expanding battery-swapping stations across Africa. The funding round is one of the largest for an electric mobility company in Africa.
Kenyan Electric Mobility Startup ARC Ride Secures $33.3 Million to Scale Battery-Swapping Infrastructure Across Africa
ARC Ride raised $33.3 million in a funding round to expand its battery-swapping network. The funding was led by Novastar Ventures and Norrsken22, with participation from several development finance institutions.
EV Startup Spiro Secures $50 Million to Scale Its Operations in Africa
Spiro secured $50 million in debt financing to scale its operations. The funding comes from a consortium including Afreximbank, Nithio, and Africa Go Green Fund.
EV Startups Spiro and ARC Ride Raise New Capital As Electric Motorcycles Sees Growth
Spiro secured a $7 million senior debt facility from climate fintech Nithio. ARC Ride is attracting a $5 million equity investment from the International Finance Corporation (IFC).
Arc Ride Secures $10 Million in Funding to Expand Electric Motorcycle Battery-Swapping Network Across Kenya
Arc Ride secured $10 million in debt financing from Mirova to expand its battery-swapping network. This investment marks Mirova's first entry into Africa's electric vehicle sector.
