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Kenyan Automotive Startup BasiGo Raises USD 6.6 Mn Funding
Kenyan Automotive Startup BasiGo Raises USD 6.6 Mn Funding

BasiGo will begin assembling electric buses in Kenya next month, ramping up its production of public transport vehicles (PSVs) as it targets to deliver 100 units by the end of next year. The plans come against the backdrop of the new USD 6.6 Mn equity funding co-led by Novastar; an Africa-focused VC firm, Mobility54; the corporate venture capital arm of Toyota Tsusho; and, a Silicon-Valley based VC firm that backs startups in the transport sector. 

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.