Kenyan E-mobility Startup Ecobodaa Secures Funding Round
Kenya Ecobodaa, which is working to roll out electric motorbike taxis, has raised a round of funding from Persistent Energy Capital to help it grow.
Founded in 2020 by Kim Chepkoit and Steve Juma, Ecobodaa aims to provide more affordable, safer, connected and environmentally-friendly means of transportation for commuters in African cities, and works on a rent-to-own model so that its riders can eventually own the electric powered motorcycles.
The startup, which was last year selected for the Nairobi-based Africa Transformative Mobility Accelerator, has now raised a round of funding from Persistent Energy Capital, which aside from cash also has a venture-building approach that includes technical and financial advisory support.
Ecobodaa will use the investment to quicken its rate of growth.
“Persistent has already proven to be a great partner to us,” Chepkoit said. “They moved quickly and methodically to bring fresh capital and immediately were on the ground in Kenya, helping us build our business with their strong experience building innovative startups. They complement our skillset, provide insights and add real value. We are excited about continuing to grow with their collaboration.”
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Persistent’s chief venture builder Mia von Koschitzky-Kimani said she was excited to support the Ecobodaa team in creating a leading e-mobility business in Kenya.
“We were impressed with the team’s hard work, local knowledge, and achievements so far. We believe that Kenya’s transport electrification is on the verge of a tremendous growth opportunity, thanks to a combination of strong green energy potential, large bodaboda sector, high number of people impacted by access to or earnings from bodabodas, and improving cost of technology. Persistent is pleased to catalyse one of the most promising companies in the sector,” she said.
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