Kenya’s Ecobodaa secures Undisclosed Amount in a funding round
Kenyan e-mobility startup Ecobodaa that is involved in rolling out electric motorbikes has raised an undisclosed amount in a funding round led by Persistent Energy Capital to accelerate its service delivery.
Ecobodaa was founded in 2020 by Kim Chepkoit and Steve Juma to provide affordable, safer, connected, and environmentally-friendly means of transportation for road users in African cities. The startup also runs a rent-to-own model for its motorbike acquisition to allow its riders to eventually own the electric-powered motorcycles.
Note that in 2020, Ecobodaa was selected for the Nairobi-based Africa Transformative Mobility Accelerator where it acquired a seed fund for product development. The partnership with Persistent Energy Capital also allows for a venture-building approach that includes technical and financial advisory support.
According to Persistent Energy Capital’s chief venture builder Mia von Koschitzky-Kimani, the venture capital firm is excited to support the Ecobodaa team as it is impressed with the team’s hard work, local knowledge, and achievements so far. It also believes that the electrification of Kenya’s transport sector will birth tremendous growth opportunities.