Kenya's ARC Ride Raises USD 33.3 M To Scale Electric Mobility Across Africa

Kenya's ARC Ride Raises USD 33.3 M To Scale Electric Mobility Across Africa ARC Ride, a Nairobi-based electric mobility startup founded by Jo Hurst Croft, has raised USD 33.3 M from a consortium led by Novastar Ventures and Norrsken22, with participation from IFC, BII, Proparco, Musashi Seimitsu and Talanton, alongside debt from BII's Kinetic programme and Mirova, which had previously invested USD 10 M. Founded in 2018, ARC Ride provides Battery-as-a-Service (BaaS) infrastructure for electric two- and three-wheelers, allowing riders to swap depleted batteries for charged ones at smart stations. The company will use the funding to expand across sub-Saharan Africa, add 5,000 electric motorcycles, strengthen battery infrastructure and develop automated swapping, smart charging and renewable-energy capabilities. It plans to expand into Ghana, South Africa, Tanzania and Uganda, while deepening operations in Kenya. ARC Ride says its network already supports EV manufacturers including Yadea and is positioning itself as a backbone for Africa's electric transport transition.