FundingMobility

 Ghanian Mobility Business, SolarTaxi Has Partnered And Raised Cash From Persistent

Story Highlights
  • SolarTaxi is Persistent’s fourth investment in the electric vehicle space, and its capital and venture building will support Solar Taxi in unlocking working capital to service significant contracts and orders for its electric vehicles.

SolarTaxi is an electric two-wheel (e-2Ws) and four-wheel (e-4Ws) vehicle manufacturer and distributor that Jorge Appiah founded in 2018. These cars are used for delivery and transportation services.

The company also has functions in Kumasi, Takoradi, and Tamale. Prominent clients in Ghana include e-commerce firms like Jumia and Bolt, which both employ SolarTaxi’s e-2Ws to deliver customer orders throughout Accra.

Although the firm wants to create and deploy solar charging stations as the market expands, SolarTaxi’s electric vehicles are made for home charging.

Meanwhile, the SolarCampus app will soon be released, enabling university students to access e-transportation services and make purchases that will be delivered by e-bike.

Persistent, a leader and investor in the off-grid energy and e-mobility sectors in Sub-Saharan Africa with 20 early-stage investments in pay-as-you-go (PAYG) solar distributors, commercial and industrial solar (C&I), mini-grid developers, technology enablers, and e-mobility companies, has provided funding for all of these initiatives.

The fourth electric vehicle investment made by Persistent is SolarTaxi. Owing to funding and venture building, Solar Taxi will be able to access working capital to fulfill large orders and contracts for its electric vehicles.

According to Appiah, SolarTaxi’s path over the years has been marked by tenacity and diligence, starting with the assembly of its first prototype vehicle and ending with the receipt of seed investment from a crucial partner, the Mastercard Foundation.

Afterward, the business had to demonstrate the viability of its approach by expanding its operations across four other Ghanaian sites.

Source
TegTechAfrica

Nichole Manhire

Is the media and brand manager at GFA News. She works very closely with editors and podcasters that contribute to telling the African business success story. For marketing and advertising send Nichole an email: nichole@getfundedafrica.com

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