E-mobility start-up headquartered in Nairobi, Kenya, BasiGo has secured $4.3 million in seed funding to set up an assembly plant in Nairobi and to launch the sales and delivery of its electric buses.
The funding, which includes $930,000 raised during the pre-seed round late last year, was led by new Silicon Valley investors, including Moxxie Ventures, Nimble Partners, Spring Ventures, Climate Capital and Third Derivative.
“We are thrilled to be partnering with Novastar, Moxxie, and this incredible group of investors, all of whom are deeply experienced in rapidly scaling businesses in this market. They understand this extraordinary moment of opportunity and urgency as time runs out for the world to make a meaningful impact on climate emissions,” said BasiGo co-founder and CEO, Jit Bhattacharya said.
Novastar Ventures partner Sapna Shah said, “We are excited to partner with BasiGo and support the team’s audacious vision to transform the public bus transport sector in Africa. Our investment will accelerate the adoption of electric buses through an innovative finance model, leading to a vastly improved experience for commuters as well as better air quality in dense urban neighbourhoods”
The company has two 25-seater buses in the country, that are currently undergoing reliability and feasibility testing in Nairobi in preparation for the pilot program. The buses have a range of 250 kilometres daily.
BasiGo’s new funding comes barely 3 weeks after Swedish-Kenyan EV start-up Opibus introduced the first locally designed and assembled all-electric mass transit bus in Kenya.
Opibus, which raised $7.5 million in pre-series A funding last year, is now conducting a pilot test before commercial deployment of 10 buses during the second half of 2022 in Kenya and the pan-African market by the end of 2023.
Opibus buses come in a 51-seat capacity with a range of 120 kilometres.