- BasiGo plans to deliver 15 of the 100 buses, manufactured using parts from China’s EV maker BYD Automotive, in January next year. It also plans to expand its charging infrastructure network, with an initial focus on Nairobi, where its clients are mainly operational.
BasiGo, the first company to introduce electric buses into Kenya, has announced $6.6 million in new funding led by Mobility54, the corporate venture capital arm of Toyota Tsusho; Trucks VC, a transportation-focused venture capital fund in Silicon Valley; and Novastar Ventures, a global VC supporting entrepreneurs transforming markets in Africa.
The round also includes investment from Moxxie Ventures, My Climate Journey (MCJ), Susquehanna Foundation, Keiki Capital, and OnCapital.
The new round brings BasiGo’s total funding in 2022 to $10.9 Million and will enable the company to begin commercial delivery of locally manufactured electric buses and charging infrastructure through the company’s unique Pay-As-You-Drive financing model.
“BasiGo is thrilled to have the backing of investors who are leaders in the automotive sector and climate finance,” said Jit Bhattacharya, CEO of BasiGo.
The startup provides state-of-the-art electric buses along with charging and maintenance services for bus operators, making these vehicles affordable through a financing model that allows operators to pay for the battery and charge separately from the bus through a pay-as-you-go financing arrangement.
BasiGo plans to deliver 15 of the 100 buses, manufactured using parts from China’s EV maker BYD Automotive, in January next year. It also plans to expand its charging infrastructure network, with an initial focus on Nairobi, where its clients are mainly operational.
Kenya’s public transport sector is home to over 100,000 privately-owned buses and minibuses, often referred to as matatus.
BasiGo’s electric buses have driven over 110,000 kilometres and carried over 140,000 passengers as part of fleet operations with two Nairobi bus operators: Citi Hoppa and East Shuttle.
The e-mobility company has already received over 100 reservations from customers, and recently announced partnerships with KCB Bank and Family Bank to provide up to 90% financing to owners for purchase of an electric bus.
“We strongly believe in the potential of electric buses in Africa “BasiGo’s strong capability to implement the concept and its cutting-edge technology is the key to transforming conventional diesel buses to environmentally-friendly electric buses.” Takeshi Watanabe – CEO of Mobility54