Roam Secures $24mn in new Funding to Accelerate Electric Mobility in Africa

Kenyan-based electric mobility developer, Roam, has secured $24 million in new funding to help it accelerate electric transportation in Africa. Roam designs, develops, and deploys electric motorcycles and buses specifically built for millions of consumers across Africa. 

The Series A funding round was led by Equator Africa.

Additionally, through the International Development Finance Corporation (DFC), the US Government has committed to provide Roam with an up to $10 million debt facility.

Two of Roam's flagship product are the Roam Rapid mass transit electric bus and the Roam Air Electric motorcycle

Roam has disrupted the electric motorcycle market in Kenya by providing greater flexibility and the option of battery ownership to its riders.

This allows users to charge their batteries at a standard household outlet and significantly reduces their cost of operations whilst increasing the ability to travel longer distances.

In addition, Roam is further increasing the utility of its motorcycles to riders through the deployment of Roam Hub stations - which are multi-purpose open-architecture electric motorcycle charging stations.

Rajal Upadhyaya, CFO of Roam, says: "As Africa embraces the move toward electric vehicle technology, we are proud of our impact on the environment and livelihoods across Kenya and the wider continent. This funding is a critical step for Roam to achieve our strategic objectives in scaling up and increasing utility to our customers."

Nijhad Jamal, Partner at Equator, adds: "At Equator, we are committed to building a future with efficient, accessible, and sustainable mobility. Roam's innovative electric mobility platform is at the forefront of this transformation, and we are proud to provide catalytic funding that will enable Roam to build a cleaner, more equitable future for African cities."

With 200 employees, Roam is today the leading provider of electric vehicles in Africa.