Opibus raises $7.5M to mass-produce electric buses & motorcycles
Opibus an African electric mobility company has announced that it has closed on a round of equity and grant fundraising totalling $7.5 million in pre-series A round. As per the company, this is the largest amount that is raised by an electric mobility company in all of Sub-Saharan Africa. The funding raised by the company will be used to scale its operations in electric motorcycle and bus manufacturing in Africa.
The Swedish-Kenyan company raised $5 million in equity and $2.5 million in grants in a round led by Silicon Valley fund At One Ventures, backed by Factor Ventures and pan-African VC firm Ambo Ventures from the angel investors.
Opibus’ CEO and co-founder, Filip Gardler said that “We are proud to be backed by globally recognized investors providing a balance between deep-tech and emerging market expertise. We have together reached a clear strategic and visionary alignment, with the conviction that mass manufacturing of electric mobility solutions in Africa will not only make the products more accessible and affordable but also lead to one of the largest industrialization and welfare transitions of the region in modern time,”
“The targets and objectives we’ve set for Opibus might seem bold, however, it is a mission that has become more important than ever. We have a responsibility to the coming generations and the earth whole.”
Opibus founded in 2017 develops, designs, and manufactures electric vehicles. All of the company’s operations, management, and design take place in Nairobi, Kenya’s capital city.
The company has worked a lot in electric conversion using its proprietary powertrain, transforming mining and safari vehicles toward zero emissions. It has also been working on converting 51 seat public transport buses in Nairobi has also developed its own electric motorcycle.
Also, read related article: DOE announces $209 million for electric vehicles battery research
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