Dodai Raises USD 13 M Series A To Scale Electric Motorbikes In Ethiopia

Dodai, an Ethiopia-based electric mobility startup, has closed a USD 13 M Series A round (USD 8 M equity, USD 5 M debt) to scale its electric motorbike and battery-swapping network in Addis Ababa.

Founded in 2023 by Yuma Sasaki, the company assembles e-bikes locally and operates swapping stations to reduce charging friction. The round includes backing from Value Chain Innovation Fund, UTokyo Innovation Platform, Nagase, Persistent Energy, and British International Investment (BII).

With Ethiopia banning internal combustion engine vehicle imports, EV adoption has surged to ~100,000 vehicles. Dodai, which has deployed over 2,000 bikes, plans to build 30 swapping stations and reach 3,000 users in 12 months, with longer-term ambitions to expand across major African cities.