Ampersand E-Mobility, an African firm that develops electric motorcycles and transportation energy solutions, has received a new investment from Beyond Capital Ventures.
Ampersand previously received $1 million in funding from AlphaMundi Group (AMG). The round was supposed to assist Ampersand in its goal of offering clean and reasonably priced mobility solutions throughout East Africa. Ampersand has been growing its motorbike fleet and battery exchange locations in Rwanda and Kenya.
Ampersand, with its headquarters in Kigali, Rwanda, is a leading comprehensive supplier of electric motorcycles and transportation energy solutions in Africa. Their fleet of distinctive electric bikes and network of battery swap stations are the foundation of their business, which is run through a user-friendly software backend and app.
The electric motorcycles produced by Ampersand have traveled more than 20 million kilometers since their commercial launch in 2019. This has led to a 41% increase in daily income for motorcycle drivers and a substantial reduction in carbon emissions.
The mobility startup has made progress in providing an economically competitive electric motorcycle with a better user experience while requiring the fewest adaptations from customers due to the significant taxi motorcycling population in East Africa.
Ampersand E-Mobility stands out in Beyond Capital’s portfolio due to its triple-bottom-line strategy, which has considerable environmental advantages.
Customers save about $1,000 yearly on an individual basis, which has a profound impact on their savings. Ampersand has been able to scale up to 1,350 motorcycles on the road and a 36% gross margin thanks to funding from Beyond Capital Ventures. As it rapidly moves toward electric mobility, the business intends to grow further, possibly into other areas.
Daniel Silva, AlphaMundi Group Investment Manager expressed excitement for the collaboration with Ampersand, highlighting the company’s potential to give motorcycle taxi and delivery drivers a productive and cost-effective source of income while also making a positive contribution to a more sustainable transportation future.
In the wake of COP27, Josh Whale, founder and CEO of Ampersand, stressed the significance of electrifying East African motorbike taxis and the need for quick, creative action.
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