Deal Street

Ampersand Rwanda Ltd Secures USD 3.5 Mn From Ecosystem Integrity Fund
Ampersand Rwanda Ltd Secures USD 3.5 Mn From Ecosystem Integrity Fund

Kigali-based electric motorcycle company, Ampersand Rwanda Ltd has just secured a USD 3.5 Mn investment from the Ecosystem Integrity Fund (EIF). The investment stands as the largest ever made in e-mobility by a venture capital fund in Sub-Saharan Africa.

Ampersand assembles and finances cleaner, cheaper and better performing electric motorcycles than the many petrol motorcycle taxis used across East Africa. Ampersand seeks to drive Africa towards a zero-carbon future using electric motorcycles and their unique battery swapping system.

The EIF investment allows Ampersand to rapidly expand its electric motorcycle and swap station network in Rwanda.