Kenyan electric mobility startup Opibus secures $7.5m funding round for expansion

Kenyan electric mobility startup Opibus secures $7.5m funding round for expansion

Nairobi based mobility startup Opibus, announced today that it has raised $7.5m in funding led by Silicon Valley fund At One Ventures. The investment is the largest ever in an electric mobility company in Sub-Saharan Africa and is aimed to scale its operations in electric motorcycle and bus manufacturing.

The round was further supported by Factor[e] Ventures and Ambo Ventures managed by former Google and Uber executives.

Opibus was founded in 2017, and has since provided locally designed and manufactured electric vehicles. The startup aims at developing reliable and cost effective products for the pan-African mass market.

Opibus, which has existing customers across 6 countries in Africa, is the leading provider of electric vehicles designed and manufactured locally. Opibus creates reliable and cost effective products designed for the pan-African mass-market.

Opibus leverages its stock of vehicles in different categories to reduce customer CO₂ emissions by 94% and operational expenditures by more than 60%, adopting a unique approach to both heavy electric vehicles and electric motorcycles.

Filip Gardler, CEO and co-founder of Opibus speaking on the funding said that the startup has an important mission at hand having reached a clear strategic and visionary alignment.

“We are proud to be backed by globally recognized investors providing a balance between deep-tech and emerging market expertise. We have together reached a clear strategic and visionary alignment – with the conviction that mass manufacturing of electric mobility solutions in Africa will not only make the products more accessible and affordable, but also lead to one of the largest industrialization and welfare transitions of the region in modern time.

“The targets and objectives we’ve set for Opibus might seem bold, however it is a mission that has become more important than ever. We have a responsibility to the coming generations and the earth at whole,” said Filip.

“Opibus is taking a fundamentals-first approach to delivering a compelling customer value proposition that is tailored for the African market. Their vehicles are half the cost compared to second-hand fossil fuel vehicles, and perform better in the harsh road conditions. We are excited to be supporting them in their growth phase to achieve true impact at scale.” said Helen Lin, Principal at One Ventures.