Opibus, a Kenya-based electric mobility startup, has just landed raising US$7.5mn in equity and grant funding.
The fund, according to the board, is expected to help it scale its operations in electric motorcycle and bus manufacturing.
The round was led by Silicon Valley fund At One Ventures, with participation from Factor[e]Ventures and Ambo Ventures.
Speaking on the development, Filip Gardler, chief executive officer (CEO) and co-founder of Opibus, expressed excitement on the news, describing its new investors as globally recognized investors.
He said: “We are proud to be backed by globally recognized investors providing a balance between deep-tech and emerging market expertise.
“We have together reached a clear strategic and visionary alignment – with the conviction that mass manufacturing of electric mobility solutions in Africa will not only make the products more accessible and affordable but also lead to one of the largest industrialization and welfare transitions of the region in modern time.
“The targets and objectives we’ve set for Opibus might seem bold, however, it is a mission that has become more important than ever. We have a responsibility to the coming generations and the earth as a whole.”
What You Need To Know About Opibus
Opibus was founded in 2017 and has grown to become a leading provider of electric vehicles designed and manufactured locally.
The startup envisions creating reliable and cost-effective products designed for the pan-African mass market.
Read the original article here