12 °c
London
Saturday, December 9, 2023
No Result
View All Result
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
FurtherAfrica
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About
No Result
View All Result
FurtherAfrica
No Result
View All Result
Home Mobility

Rwandan electric motorcycle firm Ampersand raises US$3.5M

TechGist Africa by TechGist Africa
April 13, 2021
in Africa, Finance, Industry, Mobility, Rwanda, Startup, Transport, Venture Capital
Reading Time: 1 min read
0 0
0
Rwandan electric motorcycle firm Ampersand raises US$3.5M

Ampersand, a Kigali-based electric motorcycle company, has received US$3.5M from the Ecosystem Integrity Fund (EIF) to help it expand its electric motorcycle and swap station network in Rwanda.

The transaction is the first ever e-mobility investment by a venture capital fund in Sub-Saharan Africa, and it represents a watershed moment in global electric transportation.

“We are ecstatic to have EIF as a partner in this historic investment. Ampersand’s Founder/CEO, Josh Whale, says, “We now have the impetus to scale our operations to electrify all of East Africa’s 5 million taxi motorcycles by 2030.”

Also read: Ecobodaa to launch Kenya’s first electric motorbike by 2021

Ampersand’s fleet of 35 drivers and e-motos has traveled over 1.3 million kilometers since its introduction in 2019. The EIF’s investment follows the startup’s acceleration through StartupBootcamp and early-stage funding from FactorE Ventures in 2018, as well as generous support from the Rwanda Green Fund, USAID’s Development Innovation Ventures, Shell Foundation, the UK FCDO’s Frontier Technology Livestreaming fund, the New Zealand Government, and a loan from Blue Haven Initiative’s Catalytic Fund.

Ampersand will use the funds to expand beyond Rwanda’s borders and fuel its research and development arm, putting it on track to electrify East Africa’s entire motorcycle taxi fleet by 2030.

Related

Via: Tech Gist Africa
Tags: African startupsAmpersandEcosystem Integrity Fundelectric motorcycleselectric vehiclesmobilitymotorcyclesRwandaRwandan electric motorcycle firm Ampersand raises US$3.5MStartupsTech Gist AfricaTransportventure capitalруандаروانداルワンダ卢旺达
TechGist Africa

TechGist Africa

Tech Gist Africa is a leading online technology and digital media outlet, dedicated to providing latest tech news, product launch, startup news across.

Related Posts

Africa

AfDB warns of US$25B drain on Africa with new EU carbon tax

by The Exchange
December 8, 2023
Finance

Mastercard Foundation Africa Growth Fund Invests in 3 Funds

by Africa Global Funds
December 8, 2023
Tech

Revolutionizing African languages in conversational AI

by Web3Africa
December 8, 2023
Operation of bank neutral cash hubs in Nigeria
Legal

Filing data protection compliance audit returns in Nigeria

by FurtherAfrica
December 8, 2023
COP 28

COP 28: AGIA gains US$175M pledge from global and African partners

by Energy Capital & Power
December 8, 2023
Mozambique eVisa
 
MozParks

Translate this page

Read the Latest

Africa

AfDB warns of US$25B drain on Africa with new EU carbon tax

by The Exchange
December 8, 2023
0

Africa stands to lose up to $25 billion annually due to the direct impact of the EU Carbon Border Tax...

Read more

Mastercard Foundation Africa Growth Fund Invests in 3 Funds

December 8, 2023

Revolutionizing African languages in conversational AI

December 8, 2023
Operation of bank neutral cash hubs in Nigeria

Filing data protection compliance audit returns in Nigeria

December 8, 2023

COP 28: AGIA gains US$175M pledge from global and African partners

December 8, 2023

FurtherAfrica Partners Network

The Exchange Farmers Review Africa 360 Mozambique
TechGist Africa Energy Capital & Power Club of Mozambique
Taarifa Rwanda Web3Africa See Africa Today
Africa Global Funds Novafrica CrudeMix Africa
Harambee Africa Botswana unplugged Financial Insights Zambia
O Económico Digilogic Africa  

Subscribe to FurtherAfrica

Enter your email address to receive new articles on your email.

Join 107.2K other subscribers
FurtherAfrica

© 2021 FurtherMarkets

FurtherAfrica is a FurtherMarkets Limited platform

  • Countries
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

Follow Us

No Result
View All Result
  • Countries
    • Angola
    • Botswana
    • Cape Verde
    • DRC
    • Eswatini
    • Ethiopia
    • Kenya
    • Malawi
    • Mauritius
    • Mozambique
    • Namibia
    • Nigeria
    • Rwanda
    • South Africa
    • Tanzania
    • Uganda
    • Zambia
    • Zimbabwe
  • Interviews
  • Understanding
  • Videos
  • Travel
  • Weekend
  • About

© 2021 FurtherMarkets

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?