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Kenyan EV Startup Roam Secures $24M in Series A Funding to Accelerate Electric Vehicle Production 🇰🇪 ⚡🚎

Kenyan EV Startup Roam Secures $24M in Series A Funding to Accelerate Electric Vehicle Production 🇰🇪 ⚡🚎

#transportation
#climate and sustainability
#investments
#funding
#mobility
Roam, a trailblazing electric vehicle (EV) startup based in Kenya, has successfully raised $24 million in a Series A funding round, including a $10 million debt commitment from the U.S International Development Finance Corporation. The investment aims to fuel the scaling of Roam's production of electric motorcycles and buses, marking a significant leap in Africa's push towards sustainable and eco-friendly transportation solutions.

Kenyan startup Roam has secured $24 million in a Series A funding round, including a $10 million debt commitment from the U.S International Development Finance Corporation. The funds will be utilized to scale the production of Roam's electric motorcycles and buses. With a focus on achieving a production rate of 1,000 motorcycles per month, Roam is dedicated to meeting the rising demand for sustainable mobility solutions in Kenya. The investment, led by Equator, underscores the growing interest and support for EV startups in Africa, despite challenges such as weak electricity grids and high acquisition costs.


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