BasiGo, a Kenyan e-mobility start-up led by Nairobi-based entrepreneur Jit Bhattacharya, has raised $4.3 million in seed funding from institutional investors as it seeks to drive mass transit EV adoption in Kenya, East Africa’s largest economy.
BasiGo was founded in 2021 by Bhattacharya and his friend Jonathan Green with the aim of making East Africa a global leader in clean, affordable electric bus transit.
The company aims to revolutionize Kenya’s public transportation sector by providing bus owners with a cost-effective electric alternative to diesel.
In keeping with its commitment to the transportation sector, it announced that it will assemble its EV buses locally using parts sourced from China’s EV manufacturerm BYD Automotive.
It recently raised $4.3 million in a seed funding round led by Novastar Ventures, a global VC manager with active operations in Lagos, London and Nairobi, to support its expansion plans in the Kenyan market and the East African region.
Other institutional investors who participated in the funding round are Moxxie Ventures, Nimble Partners, Spring Ventures, Climate Capital and Third Derivative.
The funding brings the total amount invested in the startup by investors to $4.4 million since its inception.
The $4.3-million capital injection will be used to scale up the startup’s operations, including the establishment of an assembly plant in Nairobi and the launch of the sales and delivery of its electric buses.
Speaking about the completion of the seed funding round, Bhattacharya said the startup is thrilled to be partnering with Novastar, Moxxie and an incredible group of investors.
He went on to say that the investor group’s support and knowledge will help BasiGo in its mission to make East Africa a leader in inclusive, sustainable bus transportation.
BasiGo recently established a charging and servicing facility near Kenya’s main airport, Jomo Kenyatta International Airport in Nairobi, and imported two electric buses for its pilot program.
Its pilot program will begin next month, as it prepares to join Swedish-Kenyan EV startup Opibus, whose first locally manufactured electric bus hit Kenyan roads three weeks ago.
Opibus has been converting gasoline and diesel vehicles to electric for the last five years, but it is now expanding into the production of new vehicles in addition to e-motorcycles.
Over the next five years, BasiGo intends to supply more than 1,000 mass transit electric buses to Nairobi transportation operators.
