Kenyan E-mobility Startup BasiGo Completes Series A Round of USD 42 M

BasiGo, a Kenyan provider of electric bus solutions in sub-Saharan Africa, has completed USD 42 M in total capital to accelerate its goal of delivering 1,000 electric buses in East Africa over the next three years.

The funding comprises USD 24 M in Series A equity and USD 17.5 M in debt facilities from British International Investment (BII) and the U.S. Development Finance Corporation (DFC).

The equity round was led by Africa50, a pan-African infrastructure investor. It marks the largest investment from an African fund in an e-mobility company to date. Co-investors include Novastar Ventures, CFAO Kenya, Mobility54, SBI Investment, Trucks VC, Moxxie Ventures, and the Susquehanna Foundation.

BasiGo will use the capital in Kenya to scale up manufacturing capacity at its dedicated electric bus assembly line at Kenya Vehicle Manufacturers. Additionally, the investment will expand BasiGo’s Pay-As-You-Drive financing model to new vehicle types and enhance the company’s technology platforms, including Jani, which makes electric buses more accessible and convenient for passengers.

This investment strengthens BasiGo’s efforts to transform public transportation in the region, promoting cleaner and more sustainable transport solutions.