Arc Ride Raises $33.3M To Scale Battery-as-a-Service Model Across Sub-Saharan Africa

Kenyan Electric Mobility Startup ARC Ride Secures $33.3 Million to Scale Battery-Swapping Infrastructure Across Africa

Kenyan electric mobility startup ARC Ride has raised $33.3 million in a mix of equity and asset-backed debt financing to expand its battery-swapping network and accelerate the adoption of electric motorcycles across Africa. The funding round was led by Novastar Ventures and Norrsken22, with participation from development finance institutions including the International Finance Corporation (IFC), […]

ARC Ride raises $33.3M as battery swapping becomes central to its African electric mobility expansion

ARC Ride has raised $33.3 million in a new financing round as the African electric mobility company moves to scale its battery-swapping network, adding thousands of electric motorcycles and entering new markets across sub-Saharan Africa. The round was led by Novastar Ventures and Norrsken22, with the International Finance Corporation (IFC), British International Investment (BII) and …

Kenya Begins Expansion Of Electric Motorcycle Across Africa With $33.3 Million Funding Initiative

  Uche Cecil Izuora A new wave of Electric Vehicles spread across Africa is beginning to emerge as Kenyan electric mobility startup ARC Ride has secured $33.3 million to expand its electric motorcycle fleet and battery-swapping network across Africa. The company according to report plans to add 5,000 electric motorcycles to its fleet and strengthen [...]

Kenya's ARC Ride Raises USD 33.3 M To Scale Electric Mobility Across Africa

Kenya-based ARC Ride has raised USD 33.3 M to expand its battery-swapping network, electric motorcycle fleet and mobility infrastructure across Africa.

Arc Ride raises $33.3m to expand battery-swapping network across Africa

Kenyan electric mobility company Arc Ride has successfully raised $33.3 million in funding, with Novastar Ventures and Norrsken22…

Arc Ride Raises $33.3M To Scale Battery-as-a-Service Model Across Sub-Saharan Africa

Kenyan electric mobility startup Arc Ride has raised $33.3 million in a funding round led by Novastar Ventures and Norrsken22 as it prepares to expand its battery-swapping network across sub-Saharan Africa. The Nairobi-based startup will use the capital to add more electric motorcycles, build out its battery infrastructure and expand into new markets, including South […]