Nigerian electric mobility startup MAX has extended its Series B3 funding round to $29 million after securing fresh financing from US-based climate investment firm Nithio as it prepares to expand its electric transport and battery-swapping infrastructure across Africa.
The investment will support MAX’s expansion of electric two-wheelers, solar-powered charging facilities, and battery swapping networks across existing and new markets. Nithio did not disclose the amount invested.
The investment follows Nithio’s $7 million financing for electric motorcycle company Spiro earlier in 2026, expanding its exposure to Africa’s electric mobility sector.
MAX provides commercial transport operators with access to electric vehicles through a subscription model that combines vehicle financing, battery technology, and fleet management tools.
For Black and Brown businesses, the financing could support opportunities across Africa’s electric mobility supply chain, including vehicle distribution, battery swapping operations, charging infrastructure and fleet services, while improving access to electric transport for commercial operators.
