EV conversion startup Opibus raises $7.5M to start bus and motorcycle mass production
Opibus, the first company in Kenya to commercially future-proof diesel and gasoline vehicles by converting them to electric, is set to embark on an ambitious plan to mass produce electric buses and motorcycles after unlocking $7.5 million in pre series A round.
The Swedish-Kenyan company raised $5 million in equity and $2.5 million in grants in a round led by Silicon Valley fund At One Ventures, backed by Factor[e] Ventures and pan-African VC firm Ambo Ventures. The round is the company’s first major fundraise, having previously raised capital from angel investors.
Opibus told TechCrunch that it is looking to deliver its first electric bus by the first quarter of next year.
“We are proud to be backed by globally recognized investors providing a balance between deep-tech and emerging market expertise. We have together reached a clear strategic and visionary alignment, with the conviction that mass manufacturing of electric mobility solutions in Africa will not only make the products more accessible and affordable, but also lead to one of the largest industrialization and welfare transitions of the region in modern time,” said Opibus’ CEO and co-founder, Filip Gardler.
Founded in 2017 by Gardler, Filip Lövström and Mikael Gånge, Opibus has over the years specialized in auto conversions, and is now moving to full electric vehicle manufacturing, starting with motorcycles and public commercial vehicles, all while developing charging and energy solutions.
“The targets and objectives we’ve set for Opibus might seem bold, however it is a mission that has become more important than ever. We have a responsibility to the coming generations and the earth [as a] whole,” said Gardler.
Article collected from : https://techcrunch.com/