Dodai closes $13m Series A to scale e-mobility in Ethiopia
Investors include BII alongside Japanese backers such as UTokyo Innovation Platform and Nagase.
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Ethiopia-based electric mobility company Dodai has closed a $13 million Series A financing round – comprising $8 million in equity and $5 million in debt – to accelerate the rollout of electric motorbikes and battery swapping infrastructure in Ethiopia. The round includes participation from Value Chain Innovation Fund, UTokyo Innovation Platform, Nagase & Co., Persistent ACV Fund, For Seasons, CBC Co., and Inclusion Japan, alongside British International Investment (BII).
Founded three years ago, Dodai has locally assembled and deployed over 2,000 electric motorbikes. With this new funding, Dodai is entering its next phase of growth. Over the next 12 months, the company aims to reach 3,000 battery swapping users supported by 30 battery swapping stations across Addis Ababa.
Leslie Maasdorp, CEO of BII said, “Ethiopia is emerging as one of Africa’s most compelling frontier markets for the clean mobility transition, where the right capital can unlock outsized impact and long-term value. BII’s investment will support Dodai to scale critical e-mobility and battery-swapping infrastructure and accelerate the development of a commercial market for electric motorbikes. By expanding access to affordable transport, Dodai is empowering entrepreneurs, creating jobs, and helping build a stronger, more competitive urban economy in Ethiopia.”
Hilina Legesse, SVP and head of corporate at Dodai commented, “This investment reflects growing confidence from international investors in our team’s ability to turn real-world challenges into opportunities to solve. In just two years, we have deployed over 2,000 electric motorcycles, enabling more than 2,000 riders to earn a living. From overnight assembly to building operations from the ground up, every constraint became something we chose to take on and solve with our team and partners on the ground. We will now accelerate and scale this impact even further.”
* Read more from How we made it in Africa: How this Japanese entrepreneur started an e-motorbike business in Ethiopia
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