Uganda: Holocene backs battery swapping network
Holocene, a South Africa-based early-stage climate tech investor, has announced an investment in Yongeza Capital.
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Holocene, a South Africa-based early-stage climate tech investor, has announced an investment in Yongeza Capital.
Yongeza is building the backbone of electric two-wheeler mobility in Uganda through a growing network of battery swapping stations. Riders swap depleted batteries for charged ones in seconds, keeping Uganda’s delivery and transport economy moving without the downtime of traditional charging.
“Since launching in June 2024, they’ve activated a burgeoning network of swap stations, executed almost 500,000 swaps and reduced drivers’ carbon footprint - all with a solid business model behind it. That’s the kind of operational discipline and financial acumen that turns infrastructure plays into real businesses,” Holocene said in a statement.
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