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Kenya’s trans-tech startup, BasiGo, raises $6.6m funding to commence commercial delivery of electric buses

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Kenyan trans-tech startup, BasiGo, has successfully raised $6.6 million in new seed funding to enable it commence full commercial delivery of locally-manufactured electric buses and charging infrastructure.

The startup which provides state-of-the-art electric buses along with charging and maintenance services for bus operators, will make the vehicles affordable through a financing model that allows operators to pay for the battery and charging separately from the bus through a pay-as-you-go financing arrangement, according to Jit Bhattacharya, the CEO of BasiGo

In November of 2021, BasiGo had launched operations in Nairobi having secured KES100 million (US$900,000) in funding earlier in the year and in February, had also raised a $4.3 million seed funding to help it commercialise its business model and to begin the assembly of electric buses locally, and now has topped its funding drive with the additional $6.6 million.

“BasiGo is thrilled to have the backing of investors who are leaders in the automotive sector and climate finance.

“Over 90 per cent of Kenya’s electricity already comes from renewables. Yet Kenya’s transport sector relies entirely on imported petroleum fuels. By electrifying Kenya’s public transport, we can make an immediate dent in climate emissions, clean up the air in our cities, and give bus owners relief from the rising cost of diesel.

‘With this new funding, BasiGo is ready to bring the benefits of state-of-the-art electric transport to all people in Africa.

“All buses delivered in 2023 will be locally assembled in Kenya, and the startup aims to have over 1,000 electric buses deployed in Kenya by the end of 2025,” Bhattacharya said.

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South African venture capital firm, 4Di Capital, announces new $25 million seed funding

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South African early-stage venture capital fund firm, 4Di Capital, has announced a new $25 million seed funding few months after the company raised $8 million funds from the South African SME Fund.

Founded in 2009, 4Di Capital principal partner, Justin Stanford, said the outfit has since then played a key role in uplifting startups across different parts of the continent with the startups reaping from its hands-on experience and approach in growing and scaling new businesses in Africa.

“Having spent the past 13 years refining our investment strategy and expanding our footprint past South Africa into the East African market and beyond, we look forward to collaborating hand-in-hand with our new partners,” Stanford said in a statement on Wednesday while announcing the funding.

The new fund which was created in partnership with DotEXe Ventures in Mauritius, Stanford said, will help 4Di Capital invest in more viable startups in Africa.

“Unlike other markets globally which have become saturated, the African market still represents an opportunity for investors.

“The investment landscape is less competitive, resulting in more favourable valuations and terms, and thus the opportunity to potentially achieve higher returns,” Stanford added.

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Egyptian supply chain startup, OneOrder, secures $3 million funding to scale up expansion plans

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An Egyptian supply chain solutions startup, OneOrder, has successfully raised $3 million in seed to enable it achieve its aim of expanding beyond the MENA region, the company’s cofounder and CEO, Tamer Amer, announced on Tuesday.

According to Amer, the funding was led by angel investor, Nclude with participation from Delivery Hero Venture and A15.

The company which was in 2021, enables restaurants to order food supplies directly on its platform, thereby helping to tackle shortages, price fluctuations, product consistency and accurate delivery.

“As a startup, OneOrder is able to improve such efficiencies across the supply chain by using its proprietary technology, which helps ensure product availability, as well as fast and accurate fulfillment,” Amer said.

“By using the platform, restaurants can order supplies for next-day delivery, eliminating the need to pay for additional storage and warehousing costs, as well as cutting costs by leveraging OneOrder’s economies of scale,” he added.

The company has so far raised $7.5 million since its launch last year. The latest round of funding, according to Amer, will also be used to “expand the team, invest in its proprietary technology, and grow the startup’s warehouse footprint across Egypt and the MENA region.”

“As a restaurateur myself, I have witnessed first hand the avoidable overheads and hassles HoReCa businesses go through in serving their customers.

“We are delighted by the level of adoption and growth we have recorded over the past year which is a testament to the fact that we are addressing a huge unmet demand in our region,” he added.

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