VC firm invests in Kenyan electric motorbike taxi company
Persistent, a venture capital investor in the off-grid energy sector, has announced a strategic venture building investment and partnership with Ecobodaa, a pioneer e-mobility startup, leading the revolution of the electric motorbike taxi (boda boda) in Kenya.
Founded in 2020 by two Kenyan engineers, Kim Chepkoit and Steve Juma, Ecobodaa aims to provide more affordable, safer, connected and environmentally-friendly means of transportation for commuters in African cities. It works on a rent-to-own model so that its riders can eventually own the electric-powered motorcycles.
Ecobodaa’s electric motorcycles are designed and assembled in Nairobi. The company propels every part of the customer experience, from motorcycle design, maintenance, and revenue collection, to battery swaps. The connected e-boda boda is equipped with sensors that collect data needed to better serve the riders and for continuous improvement of their product offerings. The swappable battery technology and the high efficiency electric motor reduces the overall cost of maintenance, with large savings for the motorbike owner.
Ecobodaa is Persistent’s second investment in electric transportation and the first one in road e-mobility, following its co-launch of ASOBO, which offers electric motorboats on Lake Victoria.
Are you seeking private equity or venture capital investment to grow your company? Africa Private Equity News now offers you the opportunity to connect with investors backing African businesses. Contact us at editor@africaprivateequitynews.com for our rate card and more information.