Ampersand, a Rwandan startup specializing in electric transportation, has just reached a new milestone in its development. The company recently raised an additional $2 million, adding to the $19.5 million obtained the previous year. This new financial input comes notably from AHL Venture Partners and Everstrong Capital, two renowned investment funds, while Beyond Capital Ventures has strengthened its participation.
Founded in 2016 by John Whale, Ampersand has set out to revolutionize transportation in East Africa by offering mobility solutions that are both economical and environmentally friendly. The company currently focuses on Rwanda and Kenya, where it deploys innovative electric motorcycles and a high-performance battery swapping system.
The advantages of this technology are numerous: Ampersand motorcycles are not only 45% less expensive to use than their petrol counterparts, but they also reduce carbon emissions by at least 75%. This combination of economic and ecological efficiency is attracting more and more drivers and businesses in the region.
Ampersand’s impact is already being felt: its fleet of commercial motorcycles, equipped with AI-based smart battery technology, covers 3 million kilometers weekly in Kigali and Nairobi. The company manages over 75,000 weekly battery swaps at its stations, with a remarkably short data processing time of 30 seconds.
To accelerate its development, Ampersand recently concluded a strategic partnership with BYD, a Chinese electric vehicle giant. This collaboration aims to intensify the production and deployment of electric motorcycles in Africa, with an ambitious goal of 40,000 units by the end of 2026.
Beyond urban mobility, Ampersand is also involved in large-scale infrastructure projects. The company is participating in a public-private partnership for the construction of a modern highway between Nairobi and Mombasa, designed to seamlessly integrate electric vehicles.
Despite fierce competition in the African electric two-wheeler market, dominated by Nigeria, Kenya, Egypt, and South Africa, Ampersand is positioning itself as an innovative and promising player. Facing established competitors like BasicGo, Roam, and Spiro, the Rwandan company is betting on its unique technology and integrated approach to stand out.
This new round of funding demonstrates investors’ confidence in Ampersand’s potential to sustainably transform mobility in East Africa. With these additional resources, the company is well-positioned to accelerate the deployment of its technology and infrastructure, thus contributing to the emergence of a cleaner and more efficient transportation ecosystem in the region.
