Ecobodaa and four other African start-ups get $1.1m for their green mobilty solutions
Five African start-ups working in smart agriculture and electric transportation will get $1.1 million in funding to combat global warming, especially in Kenya and Tanzania, owing to a British grant focusing on energy transition.
Ecobodaa will very certainly meet its target of "replacing 1.3 million gasoline-powered motorcycles in Kenya with locally designed and assembled electric motorcycles." The Nairobi-based mobility firm has just received £900,000 ($1.1 million) in finance from four other African companies in order to roll out 1,000 electric bikes by 2024 and develop its digital pay-per-rent solutions in numerous Kenyan towns.
Pay-As-You-Drive (PAYD) subscriptions, for example, are likely to appeal to East African drivers in the face of rising gasoline prices. "Motorcyclists have been hesitant to trade in their fossil fuel-powered machines for electric alternatives, due to the high upfront investment cost of batteries, which often requires large down payments," notes Kimosop Chepkoit's firm, launched in 2020.
The funding was obtained through a grant from the Ikea Foundation, whose name-brand furniture company conducts business globally, and the Powering Renewable Energy Opportunities (PREO), a renewable energy funding programme supported by the UK government organisation UK Aid through the Transforming Energy Access (TEA) platform.
Carbon Trust and Energy 4 Impact (E4I) are implementing the Preo with the goal of expediting the continent's energy transformation, notably in the transportation, cooking, and agricultural sectors.
SokoFresh is another start-up that will split money with Ecobodaa. The Kenyan enterprise provides "cold storage" for rural communities to preserve their agricultural goods, reducing financial losses and organic waste. Then there's TR, a Tanzanian smartphone app. The firm provides professional drivers for electric tricycles advertised on its smartphone app in Dar es Salaam.
Posted on : 03 Oct,2023 | News Source : adqz.co
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