Kenya-based mobility startup, BasiGo, has announced the close of $6.6 million in financing led by Mobility54, Trucks VC, and Novastar Ventures.
This funding will enable the startup to kickstart the commercial delivery of locally manufactured electric buses and charging infrastructure through the company’s unique Pay-As-You-Drive financing model.
After completing a six months pilot program in Nairobi, Kenya, the EV startup plans to deliver 15 of the 100 buses, manufactured using parts from China’s EV maker BYD Automotive.
One of the biggest obstacles to electric bus adoption in emerging markets is the high upfront cost. BasiGo’s Pay-As-You-Drive model allows owners to purchase an electric bus for a similar upfront cost to a diesel bus.
Operators then pay BasiGo a KES 20 ($0.17) per kilometre subscription fee which includes leasing of the E-Bus battery, charging at BasiGo charge stations, and comprehensive service and maintenance provided by BasiGo.
In a statement, the startup said, buses delivered in 2023 will be locally assembled in Kenya, and aims to have over 1,000 electric buses deployed in Kenya by the end of 2025.