The Kenyan e-mobility startup BasiGo recently garnered $3 million in equity funding, with the investment spearheaded by the CFAO Group, accompanied by support from Mobility54, a collaborative effort between Toyota and CFAO. This financial infusion arrives on the heels of a $6.5 million funding round in late 2023, which was a blend of a $5 million debt financing arrangement with British International Investment for the fabrication of 100 electric buses tailored to the Kenyan market, and a $1.5 million grant from USAID aimed at expanding its operations in Rwanda.

BasiGo, expressing enthusiasm about the funding, disclosed, on X, Formerly Twitter, its excitement in securing this funding while expressing the importance of the automotive distribution networks across Africa.

Since its establishment in Kenya in November 2021, following a $1 million pre-seed fundraising initiative, BasiGo has been at the forefront of championing e-mobility within East Africa. The startup introduced 25 and 36-seater electric buses, boasting a 250-kilometer range per charge, aimed at revolutionizing Kenya’s public transport sector, predominantly reliant on diesel buses. BasiGo also revealed plans to retail locally assembled electric buses constructed with components sourced from China’s BYD Automotive, alongside a financing model designed to mitigate the high upfront costs of electric vehicles. This innovative model permits customers to acquire electric buses at the price point of diesel counterparts, with the remaining cost balanced out through a usage-based subscription service.

Highlighting the cost-effectiveness and environmental benefits of electric buses, CEO and co-founder Jit Bhattacharya stated,

“The past decade has seen a significant reduction in electric bus technology costs, enabling electric buses to present considerable savings over traditional fossil-fuel buses. Our objective is to aid Kenyan bus operators in harnessing these savings, thereby positioning Kenya as a leader in sustainable public transport globally.”

BasiGo expanded its footprint to Rwanda in 2023, with the establishment of BasiGo Rwanda Ltd, aimed at electrifying the country’s public transport network. Amidst escalating fuel prices leading to reduced bus services, electric buses emerged as a potential solution to Rwanda’s public transport challenges. The company commenced its Rwandan operations with an initial fleet intended for pilot testing in Kigali, in collaboration with select transport operators, and anticipates having 200 buses operational by 2024.

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Furthermore, BasiGo formed a strategic alliance with AC Mobility, a key player in Rwanda’s smart transport sector, to expedite the transition to electric mobility in the country. The partnership, which includes a Pay-As-You-Drive financing scheme, is expected to significantly contribute to the adoption of electric buses among public transport operators, with several indicating their interest through letters of intent for the pilot phase launched in October 2023.

Reflecting on the expansion into another East African market, BasiGo’s CEO and Co-Founder, Jit Bhattacharya, remarked on Rwanda’s favourable conditions for electric mobility. With the recent backing from the CFAO Group, BasiGo is poised to become a leading force in delivering clean and sustainable public transport solutions across East Africa, further bolstered by the appointment of Moses Nderitu and Doreen Orishaba as Managing Directors for Kenya and Rwanda, respectively.