BasiGo, a Nairobi, Kenya-based provider of electric bus solutions in sub-Saharan Africa, raised $42M in funding.
The funding round consisted of US$24M in Series A equity funding along with US$17.5M in debt facilities from British International Investment (BII) and the U.S. Development Finance Corporation (DFC). The equity funding round was led by Africa50, with co-investment from Novastar Ventures, CFAO Kenya, Mobility54, SBI Investment, Trucks VC, Moxxie Ventures, and Susquehanna Foundation.
The company intends to use the funds to accelerate the expansion of its Pay-As-You-Drive offering to new vehicle types, and to improve its technology platforms such as Jani, which make electric buses more accessible and convenient for passengers.
Led by CEO Jit Bhattacharya, BasiGo is an early-stage e-mobility startup operating for the electric public transport in Africa. The company provides a complete electric bus solution including:
- Electric Buses that operate all day on a single charge with proven, safe battery technology.
- Charging depots located close to bus routes providing guaranteed charging and expert preventative maintenance every night.
- Innovative Pay-As-You-Go financing that makes BasiGo buses affordable to purchase and lower cost to operate than diesel buses.
In December 2023, BasiGo expanded its operations to Rwanda where it is currently operating 6 pilot electric buses on routes inside Kigali as well as inter-city routes serving nearby towns.
FinSMEs
28/10/2024