Rwanda’s E-mobility Company Ampersand Raises USD 2 M

Kigali-based e-mobility startup Ampersand has received new equity investments from AHL Venture Partners and Everstrong Capital and reinvestment from Beyond Capital Ventures. This brings the total funding raised in the last 12 months to USD 21.5 M. The scaleup raised USD 19.5 M early this year.

The company stated that this funding round, ahead of its Series B, will enable Ampersand to continue its expansion in East Africa. According to the electric motorcycle manufacturer, its bikes are 45% cheaper to run than the petrol alternatives and produce at least 75% less emissions.