BasiGo, Kenya's e-mobility company, raises $6.6 million

BasiGo, founded in 2021, is a Kenyan-based e-mobility startup that imports and sells electric buses, leases batteries, and provides charging stations. The company has raised $6.6 million to begin commercial delivery of locally-manufactured electric buses and charging infrastructure using the company's innovative Pay-as-you-drive financing model.

The funding round was led by Mobility 54 Investment SAS - the corporate venture capital subsidiary of Toyota and CFAO with an investment of $1 million, Novastar - an African-focused venture capital, and Trucks VC - a transportation-focused venture capital fund in Silicon Valley. Other participating investors include Moxxie Ventures, My Climate Journey (MCJ), Susquehanna Foundation, Keiki Capital, and OnCapital.

The Pay-As-You-Drive concept offered by BasiGo enables owners to acquire an electric bus at a comparable upfront cost to a diesel bus. The operators then pay a membership cost of KES 20 ($0.16) per kilometre, which includes leasing of the E-Bus battery, charging at BasiGo charge stations, and comprehensive service and maintenance. Due to recent rises in fuel prices in Kenya, bus operators in Nairobi currently pay between KES 30 to KES 50 ($0.25 to $41) per kilometre for diesel fuel alone. BasiGo consequently offers a more cost-effective and environmentally friendly alternative to public transport operators.

By 2023, BasiGo intends to provide 100 electric buses and improve the charging infrastructure throughout the country. The company also plans to increase the number of locally assembled electric buses operating in Kenya to over 1,000 by 2025. Since most of the 30,000 buses in Kenya run on diesel or gasoline, which negatively impacts air quality, the introduction of the electric buses will support a transition to a low-carbon society.