Kenya-based electric mobility startup Opibus has raised US$7.5 million in equity and grant funding to help it scale its operations in electric motorcycle and bus manufacturing. Founded in 2017, Opibus is the leading provider of electric vehicles designed and manufactured locally. Opibus’ funding round is led by Silicon Valley fund At One Ventures, and further supported by Factor[e]Ventures and Ambo Ventures. It consists of US$5 million in equity and US$2.5 million in additional grants, totaling to US$7.5 million. “Their vehicles are half the cost compared to second-hand fossil fuel vehicles, and perform better in the harsh road conditions.

Source: The North Africa Journal November 02, 2021 18:24 UTC