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|Technology Area||Clean transport|
|Total fund ask||10M+|
|Security / preferred instruments||Straight equity, Senior debt|
The company sells “battery swaps” which can take place in a multitude of swapping stations already located across Kigali. Electricity is purchased from the grid (later from solar) to charge the batteries and sold at a multiple of that cost. Moto drivers enjoy up to 50% less cost with electric bikes than with their current petrol bikes. In addition, the company also sells new electric bikes and can also retrofit petrol bikes into electric ones at a very affordable cost. The Company is has 280 motorbikes in operation since 2020.