Electric motorbike firm Ampersand closes funding to scale operations
BII, Seedstars Africa Ventures and Gaia Impact among backers in latest round.
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Electric motorbike company Ampersand has closed a funding round to expand across East Africa, securing fresh working capital from British International Investment (BII), the UK’s development finance institution. The round also brought in new equity from Seedstars Africa Ventures, Gaia Impact, the Rwanda Green Fund and Raspberry Syndicate, alongside increased commitments from existing backers including Ecosystem Integrity Fund, AHL Ventures, Acumen, HEHF and TotalEnergies.
The combined capital will support Ampersand’s expansion of its electric motorcycle fleet, battery swap network, and battery charging infrastructure across East Africa.
“This funding marks a powerful vote of confidence in our mission to electrify Africa’s most important form of transport,” said Josh Whale, CEO of Ampersand. “With support from BII, Seedstars Africa Ventures, Gaia Impact, and Raspberry Syndicate, and ongoing support from our committed investors, we can double our battery fleet size by early 2026, delivering over 35,000 battery swaps daily and powering thousands of drivers with a cleaner, cheaper, and better-performing alternative to petrol motorcycles.”
“Electric mobility is a game-changer for inclusive, low-carbon growth, particularly in East Africa. Our investment in Ampersand reflects BII’s commitment to backing climate innovation that delivers real impact – supporting livelihoods, reducing emissions, and helping Africa lead in sustainable transport,” said Seema Dhanani, regional director for East Africa at BII.
“Our decision to invest in Ampersand came down to three critical factors: the proven quality of the product, the business model’s capital efficiency, and the execution capacity of the team in a nascent market,” said Maxime Bouan, general partner at Seedstars Africa Ventures. “Their electric motorbikes are purpose-built for local conditions and already in widespread commercial use. But equally impressive is the team’s ability to execute in a complex operating environment, scale efficiently, and deliver measurable impact.”
“Ampersand is a true first mover, fast scaling company in the African electric mobility sector,” says Guilhem Dupuy, partner at Gaia Impact. “Ampersand managed to consolidate its head start to offer now a unique set of features: great commercial traction, customer centric mindset, extremely robust proprietary technology stack with a demonstrated ability to turn batteries into bankable financial assets, which would have been unthinkable in the energy space even a couple of years ago.”
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