Leading Swedish-Kenyan electric vehicle company Opibus has closed a $7.5 million round led by At One Ventures, alongside participation from Factor[e] Ventures and Ambo Ventures. The investment will go towards scaling its electric motorcycle operations and bus manufacturing. This raise is structured as a $5 million equity and $2.5 million grant investment.
Opibus designs and manufactures electric vehicles locally, and has customers across 6 African countries. The company strives to design and locally manufacture vehicles that are cost-effective and reliable for the pan-African mass market. Opibus is now East Africa’s largest vehicle manufacturer earning a feature in National Geographic where it was featured alongside VW, Tesla, and Rivian.
Founded in 2017, Opibus has fixated on three main products namely, electric motorcycles, electric public transport, and charging energy solutions. Filip Gardler, the CEO/co-founder pointed out that they have achieved “a clear strategic and visionary alignment” with their globally recognized investors who provide a balance between “deep-tech and emerging market expertise.”
Principal at At One Ventures Helen Lin, was pleased with Opibus “fundamentals-first approach” when delivering value propositions tailored to the African market.
More details on the raise here