Kenyan EV Startup BasiGo Secures $41.5M to Accelerate Electric Bus Adoption in East Africa

In a major boost for electric mobility in East Africa, Kenyan electric bus manufacturer BasiGo has raised $41.5 million in a Series A round, with $24 million as equity and $17.5 million in debt. This funding will propel the startup’s mission to expand its electric bus fleet, which currently has 119 buses, to a target of 1,000 buses.

Founded in 2021, BasiGo offers a lease-to-own model for commercial drivers, allowing them to avoid upfront costs and instead pay based on mileage milestones. This model has proven popular, with BasiGo drivers logging over 540,000 miles in 2023 alone, averaging about 4,543 miles per driver. Such growth and sustained use of BasiGo’s buses have attracted significant investor interest, underscoring the viability of electric mobility in Kenya.

One key factor behind BasiGo’s success is its adaptability and partnership strategy. Initially, BasiGo imported electric buses from China’s BYD to understand the technology. Since then, the company has diversified its suppliers to include BLK, Zhongtong, and Higer, culminating in the development of its E9 Kubwa buses, which are now assembled locally at the Kenya Vehicle Manufacturers (KVM) plant in Thika.

The startup’s infrastructure-first approach also plays a role, as it has strategically placed charging stations along Nairobi’s bus routes to ensure operational efficiency. Buoyed by its success in Kenya, BasiGo recently expanded to Rwanda, signaling its ambition to scale across East Africa. Notably, Toyota Group’s venture arm, Mobility54, was among the investors in this round, a testament to global interest in Africa’s growing e-mobility sector.