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BasiGo secures $4.3 million in seed funding to accelerate mass transit EV adoption in Kenya

Kenya-based EV startup BasiGo has closed $4.3 million in seed funding, three months after setting up operations in East Africa’s biggest economy, to provide clean-energy mass transit vehicles in a country that is heavily-reliant on fossil-fuel buses.

The startup said it will use the new funding to set up an assembly plant in Nairobi and launch the sales and delivery of its electric buses. Already, BasiGo has set up a charging and servicing depot adjacent to the country’s main airport, the Jomo Kenyatta International Airport, in the capital, Nairobi. It has also imported two electric buses for the pilot program.

The round was led by Novastar Ventures, with participation from a number of existing and new Silicon Valley investors, including Moxxie Ventures, Nimble Partners, Spring Ventures, Climate Capital and Third Derivative. The $4.3 million includes $930,000 raised during the pre-seed round late last year.

Read more: TechCrunch

 


 

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