Grace Ashiru
BasiGo, a mobility company based in Kenya, has announced that it has raised $6.6 million in funding.
Mobility54, Trucks VC, and Novastar Ventures led the funding round.
Through the company’s unique Pay-As-You-Drive finance mechanism, this money will allow the startup to begin commercial delivery of locally built electric buses and charging infrastructure.
After a six-month pilot program in Nairobi, Kenya, the EV startup plans to deliver 15 of the 100 buses, which will be made with parts from BYD Automotive, a Chinese EV maker.
The high initial cost is one of the main reasons why electric buses are used less in developing countries. The Pay-As-You-Drive model from BasiGo lets owners buy an electric bus for the same price as a diesel bus.
Operators then pay BasiGo a subscription cost of KES 20 ($0.17) per kilometre, which includes leasing the E-Bus battery, charging at BasiGo charge stations, and comprehensive care and maintenance from BasiGo.
In a statement, the startup said that buses delivered in 2023 would be put together in Kenya. It also said it wants to have more than 1,000 electric buses in Kenya by the end of 2025.
