Opibus has received Sh834.37 million ($7.5 million) in equity and grant money to begin manufacturing electric bikes and buses in Kenya next year.
Similarly, BasiGo, an e-mobility start-up based in Nairobi, made its launch into the Kenyan market yesterday.
BasiGo has already raised Sh100 million in funding for the venture.
Electric buses will be provided by the corporation, which will give a more ecologically friendly alternative that is also less expensive to maintain than present diesel buses.
Opibus was funded with Sh556.25 million ($5 million) in equity and Sh278.1 million ($2.5 million) in grants, led by Silicon Valley fund At One Venture with help from Factor(e) Ventures and Ambo Ventures.
Opibus, which has its African headquarters in Nairobi, transforms diesel and gasoline engines into electric motors, lowering costs and carbon dioxide emissions.
“We have together reached a clear strategic and visionary alignment – with the conviction that mass manufacturing of electric mobility solutions in Africa will not only make the products more accessible and affordable but also lead to one of the largest industrialization and welfare transitions of the region in modern time,” the start-up co-founder and chief executive officer Filip Gardler said.
Opibus began as a research initiative at one of Sweden’s leading technological institutions, with the goal of bringing electric mobility to emerging areas.
Kenya was chosen as the headquarters location since it is the fastest-growing country in Sub-Saharan Africa. In addition, the country is seeing an increase in the amount of old car imports, making electric conversions a viable option.
