Kenya e-mobility startup Ecobodaa has raised a new funding round was led by Persistent Energy Capital which also runs a venture building approach that provides support for technical and advisory support. Ecobodaa will channel the new funds to quicken its growth.
The clean energy-inspired mobility startup was founded by Steve Juma and Kim Chepkoit in 2020, and qualified for the Africa Transformative Mobility Accelerator alongside 9 other East African startups.
According to Chepkoit, Persistent Energy Capital is a proven partner that helps builds businesses with ” strong experience building innovative startups.” Mia von Koschitzky-Kimani, the chief builder at Persistent was pleased with the “ team’s hard work, local knowledge, and achievements.”
There are over 1.4 million motorcycle taxi riders in Kenya carrying out 22 million rides per day. Kenya’s president revealed that 5.2 million people are directly or indirectly supported by the sector. Boda Boda riders across Kenya collect over Ksh 980 million ($9.2 million) million daily. Estimated annual earnings from the industry stand at Ksh 357 billion ($3.3 billion) making it a vital part of the economy.