{"id":35505,"date":"2024-10-28T14:25:27","date_gmt":"2024-10-28T11:25:27","guid":{"rendered":"https:\/\/entarabi.com\/?p=35505"},"modified":"2024-10-28T14:36:59","modified_gmt":"2024-10-28T11:36:59","slug":"basigo-secures-41-5-million-seed-funding-for-expansion-activities-in-africa","status":"publish","type":"post","link":"https:\/\/entarabi.com\/en\/2024\/10\/basigo-secures-41-5-million-seed-funding-for-expansion-activities-in-africa\/","title":{"rendered":"BasiGo Secures $41.5 Million Seed Funding for Expansion Activities in Africa"},"content":{"rendered":"<div class=\"flex-shrink-0 flex flex-col relative items-end\">\n<div>\n<div class=\"pt-0\">\n<div class=\"gizmo-bot-avatar flex h-8 w-8 items-center justify-center overflow-hidden rounded-full\">\n<div class=\"relative p-1 rounded-sm flex items-center justify-center bg-token-main-surface-primary text-token-text-primary h-8 w-8\" dir=\"ltr\" style=\"text-align: left;\">Kenyan startup BasiGo, specializing in electric bus solutions, has raised $41.5 million in seed funding to support its expansion plans within the local market and across Africa.<\/div>\n<div dir=\"ltr\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\/conversation-turn relative flex w-full min-w-0 flex-col agent-turn\" dir=\"ltr\">\n<div class=\"flex-col gap-1 md:gap-3\">\n<div class=\"flex max-w-full flex-col flex-grow\">\n<div class=\"min-h-8 text-message flex w-full flex-col items-end gap-2 whitespace-normal break-words [.text-message+&amp;]:mt-5\" dir=\"auto\" data-message-author-role=\"assistant\" data-message-id=\"7c3e73a8-8ca8-4410-a8a5-8b839339688a\" data-message-model-slug=\"gpt-4o\">\n<div class=\"flex w-full flex-col gap-1 empty:hidden first:pt-[3px]\">\n<div class=\"markdown prose w-full break-words dark:prose-invert light\">\n<p style=\"text-align: left;\">The funding round was led by a consortium of investors and institutions, including Africa50, with participation from Novastar Ventures, CFAO Kenya, Mobility54, SBI Investment, Trucks VC, Moxxie Ventures, and the Susquehanna Foundation.<\/p>\n<p style=\"text-align: left;\">This funding allows BasiGo to enhance its services, particularly in affordable charging and maintenance for bus operators, by adopting an innovative financing model known as \u201cBattery-as-a-Service\u201d (BaaS). Unlike traditional models, this setup enables bus operators to pay only for the battery usage while keeping charging services separate from the buses.<\/p>\n<p style=\"text-align: left;\">With this capital, BasiGo is also able to secure a $10 million loan from the U.S. International Development Finance Corporation (DFC) and an additional $7.5 million loan from the British International Investment (BII) to support the deployment of electric buses in Rwanda.<\/p>\n<p style=\"text-align: left;\">The initial funding will further be allocated towards the delivery of 1,000 electric buses across East Africa over the next three years, in addition to expanding the company\u2019s vehicle offerings and targeting new markets.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Kenyan startup BasiGo, specializing in electric bus solutions, has raised $41.5 million in seed funding to support its expansion plans within the local market and across Africa.<\/p>\n","protected":false},"author":11,"featured_media":35506,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"post_subtitle":"","footnotes":""},"categories":[1772],"tags":[6132,6133,6135,6136,6134],"class_list":["post-35505","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startups","tag-basigo","tag-cfao-kenya","tag-including-africa50","tag-novastar-ventures-en","tag-sbi-investment"],"_links":{"self":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/35505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/comments?post=35505"}],"version-history":[{"count":0,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/posts\/35505\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media\/35506"}],"wp:attachment":[{"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/media?parent=35505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/categories?post=35505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/entarabi.com\/en\/wp-json\/wp\/v2\/tags?post=35505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}