Kigali-based Ampersand, a company specialising in electric transport energy, has secured $19.5 million in funding to expand its operations.
Established in 2016, Ampersand builds and finances electric motorcycles that outperform traditional petrol motorcycles widely used in East Africa.
Since its launch in May 2019, Ampersand’s fleet has grown to over 1,000 and is expected to reach 10,000 by late 2024. The funding, led by Ecosystem Integrity Fund, along with Acumen and Hard Edged Hope Fund, will propel the company’s mission.
Ampersand’s CEO, Josh Whale, expressed confidence in their technology and commitment to supporting Africa’s green transition.
The CEO’s exact words say: “Our made-in-Africa battery fleet already leads the world in cost per km and uptime for light-electric vehicles. Our technology continues to advance, alongside the now rapid march of government e-mobility policies across Africa and the removal of fuel subsidies, our addressable market continues to grow. With this funding, we are on track to deliver thousands more electric motorcycles in the coming months,”
James Everett from Ecosystem Integrity Fund emphasised continued support for Ampersand’s role in leading electric transportation in East Africa.
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