BasiGo receives $3 million to help boost bus production in East Africa. BasiGo, a startup focusing on electric mobility in Kenya, has successfully raised KSh396 million (equivalent to $3 million) in equity funding from CFAO Group.
This investment aims to facilitate the expansion of BasiGo’s electric bus production operations in both Kenya and Rwanda.
BasiGo Receives $3 Million
BasiGo, a company that makes electric buses, just got a big boost of money, $3 million, from CFAO Group and its venture capital arm, Mobility54. This money will help BasiGo make and deliver more electric buses in Kenya and Rwanda.
They’ve already got reservations for 600 buses, with 500 from Nairobi and 100 from Kigali. BasiGo plans to make and deliver 1,000 electric buses over three years, which will create 300 jobs in Kenya.
Jit Bhattacharya, BasiGo’s CEO, says this funding is part of their plan to grow in Africa. CFAO Group is excited about electric mobility’s potential to help African economies.
CFAO Group, CFAO Motor Kenya, and Toyota Tsusho Corporation Working Together
The CFAO Group, CFAO Motor Kenya, and Toyota Tsusho Corporation are working together to help Kenya become carbon neutral. The CFAO Group, which operates in 40 African countries, is investing in green mobility startups through Mobility54.
First BYD Electric Car Dealership In Kigali
CFAO Mobility in Rwanda recently opened the first BYD electric car dealership in Kigali. BasiGo finished making its first batch of electric buses in February 2024 and has already covered 1.5 million kilometers, carrying over 2.1 million passengers and reducing 680 tons of greenhouse gas emissions.
BasiGo Received $5 Million from British International Investment in December 2023
The company, BasiGo received $5 million from British International Investment in December 2023 to support local bus assembly in Kenya. They also got $1.5 million in November 2023 to expand into Rwanda to address the country’s bus shortage.
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