TechBookyBusiness
No Result
View All Result
Tuesday, July 5, 2022
  • Login
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us
Subscribe
TechBooky Business
No Result
View All Result
Home Funding

Ugandan Electric Mobility Startup Zembo Obtains $3.4 Million To Scale Its Operations

Ibhadojemu Lucky Emmanuel by Ibhadojemu Lucky Emmanuel
November 15, 2021
in Funding, Startup
Share on FacebookShare on Twitter

Ugandan electric mobility startup Zembo has secured an investment grant of $3.4 million and plans to use the fund to expand its electric motorcycle company in the country’s capital Kampala. Zembo can be described as the Tesla of motorcycles; it provides electric motorcycles for the African market at low cost and also provides battery swap stations where these electric bikes can be recharged.

The startup started in 2018 and was founded by Daniel Dreher and Etienne Saint-Sernin. Currently, the company has sold or leased 200 electric motorcycles popularly referred to as “boda boda”. It has 20 charging stations of present and carries out at least 10,000 battery swaps in a month.

A funding agreement was signed among Zembo, private infrastructure development group (PIDG) company InfraCo Africa and a consortium of companies that include Toyota Tsusho’s venture capital facility Mobility 54 and Dutch private equity firm DOB Equity.

With the funds, the company plans on increasing the number of its electric motorcycles in circulation. The goal is to increase the number of electric motorcycles on the road by about 2,000. Other plans include increasing the number of available battery swapping outlets throughout the city.

The world is shifting from gas-powered vehicles and electric vehicles are slowly but gradually becoming the next point of call. These vehicles have quite a plethora of benefits, from being environment-friendly to being cost-effective.

Zembo electric motorcycles are either purchased at once or acquired using the lease-to-own option it provides. Africa remains an emerging market for electric mobility options for transportation, and Zembo is one out of the continuously increasing number of companies providing these solutions. Zembo is, therefore, one of the first companies in Africa that is pushing for the global goal of net-zero emissions and are contributing its quota by producing electric motorcycles.

Apart from increasing the number of vehicles it has on the road, Zembo will channel part of the newly-raised fund to grow its operations as well focus its operation on the riders of its electric bikes; ensuring their safety and health. The startup also will use the fund to position itself in a position to attract more investments in the future.

Speaking about the startup, co-CEO of DOB Equity, Saskia van der Mast, said that “Zembo is providing a low-emission and cost-effective mobility option to address the growing need for urban transit. DOB is thrilled to join with Zembo and work with InfraCo Africa and Mobility 54 to develop the electric mobility industry on the continent, with the objective of investing more in Uganda and in firms with strong environmental aspects”.

A media statement from the startup’s co-founder Etienne Saint-Sernin said that “We’re pleased to join with impact-focused institutions like InfraCo Africa, DOB Equity, and Mobility 54 to continue developing electric boda bodas (motorcycle taxis) and charging stations for our consumers.”

He also added that “Our sponsors support Zembo’s objective of boosting earnings for Ugnada’s boda boda riders while reducing air pollution, and that is the driving force behind our relationship. We look forward to continuing to serve our customers and helping Uganda achieve sustainable mobility”.

The company mentioned that its electric motorcycle project aims to make about 2,000 electric motorcycles accessible to people who want to buy by the middle of 2023. The company also has other bigger plans, mostly about a continental expansion, under its sleeves.

Total
0
Shares
Share 0
Tweet 0
Pin it 0
Share 0

Related Posts:

  • Rwandan Startup, Ampersand Raises $3.5m, Largest e-mobility Investment In Africa
    Rwandan Startup, Ampersand Raises $3.5m, Largest e-mobility…
  • MAX, a Nigerian mobility-tech startup, raises $31 million in Series B round to fuel expansion plans
    MAX, a Nigerian mobility-tech startup, raises $31 million in…
  • Ola Electric Valued At $5 Billion After Raising $200 Million In A Funding Round
    Ola Electric Valued At $5 Billion After Raising $200 Million…
  • Asaak, A Ugandan Fintech Platform, Secures $30 Million To Support Taxi Operators In Acquiring Motorbikes, Smartphones, Etc.
    Asaak, A Ugandan Fintech Platform, Secures $30 Million To…
  • BMW Records Impressive Sales For Its Electric Cars But It Is Still Far Behind Elon Musk's Tesla
    BMW Records Impressive Sales For Its Electric Cars But It Is…
  • Kenya-based EV Startup BasiGo Secures $4.3 Million In Seed Funding
    Kenya-based EV Startup BasiGo Secures $4.3 Million In Seed…
  • Amazon Invests In Three More Startups As Part Of Its $2 Billion Climate Pledge Fund
    Amazon Invests In Three More Startups As Part Of Its $2…
  • Ride Hailing Company Ola Appoints Two New CFOs
    Ride Hailing Company Ola Appoints Two New CFOs
Tags: boda bodaelectric motorcyclesFundingmobilityUgnadaZembo
Previous Post

DrugStoc, A Nigerian Health-tech Startup Raises $4.4 Million In Its Series A Round

Next Post

South African Medical and Security Platform AURA Raises $4.7 Million In Series A Round

Next Post
South African Medical and Security Platform AURA Raises $4.7 Million In Series A Round

South African Medical and Security Platform AURA Raises $4.7 Million In Series A Round

No Result
View All Result

Get top tech business news in your inbox

subscription from
Loading

Crypto Price List

  • USD
  • EUR
  • GPB
  • AUD
  • JPY
  • TadpoleTadpole(TAD)
    $7.32-1.74%
  • SEENSEEN(SEEN)
    $2.05-2.27%
  • EvedoEvedo(EVED)
    $0.082301-0.80%
  • MarginswapMarginswap(MFI)
    $0.184213-2.11%
  • SakeTokenSakeToken(SAKE)
    $0.0127135.28%
  • WTF TokenWTF Token(WTF)
    $0.0113500.17%
  • BNSD FinanceBNSD Finance(BNSD)
    $0.005461-5.83%
  • RobotinaRobotina(ROX)
    $0.00266138.50%
  • CageCage(C4G3)
    $0.005010-3.67%
  • YAM v2YAM v2(YAMV2)
    $4.70-1.41%

Recent Posts

  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin
  • Popular Bitcoin Family Reveals They’ve Had Bitcoin Losses Of Up To $1 Million This Year
  • June Was Bitcoin’s Worst Month On Record After The Flagship Crypto Lost 40 Percent Of Its Value

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Get top tech business news in your inbox

subscription from
Loading

Popular Tags

Acquisition africa amazon apple bitcoin cbn china coinbase company crypto cryptocurrency e-commerce earnings earnings season elon musk facebook fintech Funding gadget google government india internet Investment ipo kenya microsoft money netflix nigeria payment payments Q1 revenue russia service shares social media Startup Stock tech tesla twitter Ukraine whatsapp

Calendar

July 2022
M T W T F S S
 123
45678910
11121314151617
18192021222324
25262728293031
« Jun    

Categories

  • Acquisition
  • Acquisition & Merger
  • App
  • Banking
  • Capital
  • Cryptocurrency
  • Earnings
  • Ecommerce
  • Economy
  • Enterprise
  • Event
  • Funding
  • Gadget
  • Government
  • internet
  • Investment
  • Market
  • Merger
  • Money
  • Partnership
  • Personnel
  • Service
  • Social Media
  • Startup
  • Stocks
  • telecom
  • Venture Capital

Recent News

  • Financial Inclusion In Nigeria Grew To 45 Percent In 2021 – World Bank
  • Meta Is Shutting Its Novi Digital Wallet By September 1st
  • Crypto Is The Answer To Financial Inclusion, Central African Republic’s President Says Amid Huge Aversion For Its Adoption Of Bitcoin
  • Popular Bitcoin Family Reveals They’ve Had Bitcoin Losses Of Up To $1 Million This Year
  • June Was Bitcoin’s Worst Month On Record After The Flagship Crypto Lost 40 Percent Of Its Value
  • Nigerian Mobility Startup Moove Gets $20 Million From The UK Government’s Development Finance Institution – British International Investment (BII)

© 2021 Techbooky Business - Design by Techbookyelite.

No Result
View All Result
  • Home
  • TechBooky
  • Africa
  • TV
  • Startup
  • Earnings
  • Crypto Price
  • Submit Article
  • Contact Us
  • About Us

© 2021 Techbooky Business - Design by Techbookyelite.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoinBitcoin(BTC)$19,452.18-1.50%
  • ethereumEthereum(ETH)$1,103.14-0.38%
  • tetherTether(USDT)$1.00-0.32%
  • usd-coinUSD Coin(USDC)$1.00-0.18%
  • binancecoinBNB(BNB)$225.350.72%
  • Binance USDBinance USD(BUSD)$1.00-0.09%
  • rippleXRP(XRP)$0.316695-2.05%
  • cardanoCardano(ADA)$0.449588-3.91%
  • SolanaSolana(SOL)$33.77-1.63%
  • dogecoinDogecoin(DOGE)$0.066140-2.70%
  • polkadotPolkadot(DOT)$6.73-3.88%
  • Shiba InuShiba Inu(SHIB)$0.000010-1.86%
  • AvalancheAvalanche(AVAX)$16.77-3.64%
  • matic-networkPolygon(MATIC)$0.4974595.20%
  • Terra Luna ClassicTerra Luna Classic(LUNC)$0.000071-5.36%
Posting....