ImpactAlpha, April 13 — Kigali-based Ampersand launched in 2019 to build and finance electric motorcycles that it says are cheaper, cleaner, and performs better than fossil fuel-powered motorcycles.
It has secured $3.5 million from Ecosystem Integrity Fund, which will help Ampersand expand its fleet of electric motorbikes and its electric battery swapping stations, is one of the largest VC investments to date in e-mobility in Africa according to Ampersand.
“We now have the momentum to scale our operations to electrify all of East Africa’s 5 million taxi motorcycles by 2030,” says Ampersand’s Josh Whale.
Motorcycle taxis are one of the main modes of transportation in East Africa, where they are known as boda boda. In Uganda and Kenya, Tugende finances drivers’ purchases of their own motorcycle taxis. Also in Uganda, SafeBoda is trying to improve road safety for passengers and drivers.