Kenyan electric mobility company Roam has raised $24 million in funding, accelerating its mission to bolster transportation across Africa.
The Series A round for Roam was led by Equator Africa, and includes investments from known players like At One Ventures, TES Ventures, and the US government’s DFC.
This investment will facilitate Roam’s expansion in the production of its locally designed and manufactured electric motorcycles and buses.
The company aims to disrupt the market with innovative, Africa-specific solutions, providing greater flexibility and affordability compared to traditional petrol options.
Roam takes pride in its unique approach, prioritizing local engineering and design. This ensures vehicles like the Roam Air motorcycle and Roam Rapid bus are both cost-effective and also cater to the specific needs and infrastructure of East African countries.
Beyond environmental benefits, the mobility company empowers communities by creating jobs, stimulating skills development, and bringing about flexible ownership options for riders.
The “Roam Hub” stations are designed to offer a range of comprehensive support services to users. In addition to providing battery-swapping facilities, these stations also offer a host of other services that can make your life easier.
From tyre inflation to minor repairs and maintenance, the Roam Hub stations are a one-stop shop for all electric vehicle needs. With convenient locations and user-friendly interfaces, these stations are quickly becoming a popular choice for EV owners who are looking for reliable and efficient charging solutions.
The funding fuels Roam’s expansion plans, including scaling up production at its new 10,000 sqm facility, “Roam Park.” Investments will also go towards research, cost efficiencies, and streamlining supply chains.
The ultimate goal is to transition Africa’s transport sector to affordable and effective electric vehicles, leveraging local resources and infrastructure.
Roam has already mitigated over 120,000 tonnes of carbon emissions, reiterating its focus on sustainable transportation solutions. With this funding, the company targets making an even greater impact, enhancing the African economy.
