Kenyan Automotive Startup BasiGo Raises USD 4.3 Mn Seed Round

Kenyan startup BasiGo, an electric vehicle technology and financing company bringing electric bus services to Sub-Saharan Africa, has raised a USD 4.3 Mn seed funding round to help it commercialize its business model and begin local assembly of electric buses. The round was led by Novastar Ventures with participation from several Silicon Valley investors, including Moxxie Ventures, Nimble Partners, Spring Ventures, Climate Capital, and Third Derivative. 

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.