AFRICA: Ecobodaa and 4 other start-ups get $1.1 million for their green solutions
In response to global warming, particularly in Kenya and Tanzania, five African start-ups operating in smart agriculture and electric mobility will fund their green solutions to the tune of $1.1 million thanks to a British grant focused on energy transition.
Ecobodaa will likely achieve its goal of “replacing 1.3 million gasoline-powered motorcycles in Kenya with locally designed and assembled electric motorcycles.” The Nairobi-based mobility startup has just secured £900,000 ($1.1 million) in funding with four other African companies to roll out 1,000 electric bikes by 2024, as well as expand its digital pay-per-rent solutions in several Kenyan cities.
These include Pay-As-You-Drive (PAYD) subscriptions, which are expected to appeal to drivers in East Africa amid soaring fuel prices. “Motorcyclists have been reluctant to trade in their fossil fuel-powered machines for electric alternatives, due to the high upfront investment cost of batteries and which often requires large down payments,” says the company founded in 2020 by Kimosop Chepkoit.
The funds were secured through a grant from the Powering Renewable Energy Opportunities (PREO), a renewable energy funding program supported by the UK government organization UK Aid through the Transforming Energy Access (TEA) platform, as well as the Ikea Foundation, whose eponymous company operates in the furniture sector worldwide. The Preo is being implemented by Carbon Trust and Energy 4 Impact (E4I) with the aim of accelerating the continent’s energy transition, particularly in the transportation, cooking and agriculture sectors.
Other start-ups that will share funding with Ecobodaa include SokoFresh. The Kenyan company offers rural communities “cold storage” for the preservation of their agricultural produce to reduce financial losses and organic waste. Then there’s TRī, a mobile app in Tanzania. The startup offers professional drivers in Dar es Salaam electric tricycles listed on its mobile app.