Opibus Secures $7.5 Million In Funding — Sub-Saharan Africa’s Largest Ever Fundraise In Electric Mobility

Opibus, a Swedish-Kenyan technology company that develops, designs, and manufactures electric vehicles tailored for the African continent, has just secured sub-Saharan Africa’s largest ever fundraise in electromobility. Opibus was founded in 2017 and is leading the transition to sustainable transport in key segments such as mass transit (medium and high capacity intracity buses), electrification of motorcycles, mining vehicles, and game drive vehicles. Opibus is also focusing on commercial vehicles as well as charging and energy solutions.

Opibus was the first company to deliver locally produced electric motorcycles. With nearly 100 employees, (40% are female), Opibus is today the leading manufacturer of electric vehicles in Africa and has one of the largest fleets of electric motorcycles deployed so far. The company is gaining some significant traction with 170 vehicles deployed to date.

All of these vehicles were locally designed and manufactured in East Africa. Over 35% of the components used in its vehicles are sourced locally, contributing to more employment opportunities in associated downstream industries. Opibus’ value proposition is riding on some positive unit economics. Opibus says its consumers can enjoy more than a 60% reduction in running costs by switching to its electric motorcycles and buses, when compared with traditional ICE vehicles. Opibus was also recently featured in the print issue of National Geographic.

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Source: https://cleantechnica.com/2021/11/02/opibus-secures-7-5-million-in-funding-sub-saharan-africas-largest-ever-fundraise-in-electric-mobility/