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ARC Ride has completed a $33.3 million financing round to scale its battery-swapping infrastructure and electric mobility platform across Africa.
The financing round was led by Novastar Ventures and Norrsken22, with the International Finance Corporation (IFC), British International Investment (BII) and Proparco joining as co-investors.
Existing investors Musashi Seimitsu, the Japanese automotive supplier, and Talanton, an African impact investor, also committed further capital. The financing also included a debt facility from BII’s Kinetic programme and Mirova.
ARC Ride is a Kenya-based electric mobility company focused on two- and three-wheeler transport. Its battery-as-a-service model allows riders to use electric vehicles without owning batteries outright, reducing upfront costs and enabling battery swaps through a network of smart battery swap stations.
ARC Ride said it will continue expanding in Kenya, including Nairobi and the western region. It is also targeting new markets including Ghana, South Africa, Tanzania and Uganda.
Jo Hurst Croft, founder of ARC Ride, said: “This funding reinforces our vision of building a robust, scalable energy and mobility network across Africa. Our ambition is to make electric mobility the default choice for riders across Africa by making it more accessible, more affordable and more practical than petrol alternatives. This funding allows us to scale the infrastructure required to support that transition and to do so at pace.”
Steve Beck, co-founder and managing partner at Novastar Ventures, commented: “ARC Ride is helping solve one of the biggest barriers to electric mobility in Africa: reliable, extensive battery-swapping infrastructure. Alongside electric motorcycles designed specifically for commercial riders, ARC Ride has built a model that’s proving itself in Kenya and expanding into Ghana, Uganda and South Africa. We’re proud to partner with a business helping to accelerate the transition to cleaner, more affordable mobility across the continent.”
Ngetha Waithaka, partner at Norrsken22, noted: “We back founders building category-defining platforms, and ARC Ride is exactly that. Jo and the team have engineered a battery-as-a-service model whose technology, data and network effects give it the potential to become the open standard the entire ecosystem plugs into. The unit economics are compelling, and the product is winning with riders. We are thrilled to partner with them as they scale.”
Chris Chijiutomi, managing director and head of Africa at BII, said: “Electric mobility is essential to building cleaner, more sustainable transport across Africa and is therefore a key pillar of our climate investment strategy. Through our deepening partnership with ARC Ride, BII is supporting the two-wheeler infrastructure needed to accelerate EV adoption, reduce emissions and improve air quality. This also aligns with our ambition to build the market for electric mobility, creating economic opportunities for riders and communities while supporting a greener future across the continent.”
Fabrice Perez, head of VC at Proparco, added: “ARC Ride represents a new generation of African platform businesses – one that combines local innovation with institutional-grade infrastructure to deliver clean, affordable transport at scale. By supporting ARC Ride’s expansion across sub-Saharan Africa, we are investing in a model that advances climate resilience, economic inclusion, and the long-term competitiveness of African cities.”
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