ARC Ride Powers Up with $33.3M Funding for Electric Mobility Expansion

Nairobi-based electric mobility startup ARC Ride has closed a significant funding round of $33.3 million, positioning the company as a key enabler of Africa’s electric vehicle transition. The consortium backing this growth includes Novastar Ventures and Norrsken22, with participation from IFC, BII (British International Investment), Proparco, Musashi Seimitsu, and Talanton. Existing investor Mirova also increased its commitment.

Founded in 2018 by Jo Hurst Croft, ARC Ride offers a Battery-as-a-Service (BaaS) model that allows riders to swap depleted batteries for charged ones at strategically located stations. This addresses one of the major barriers to EV adoption – range anxiety – particularly in markets where charging infrastructure is limited.

The new funding will fuel several key initiatives: expanding operations across sub-Saharan Africa, adding 5,000 electric motorcycles to its network, strengthening battery infrastructure, and developing automated swapping capabilities. The company plans to enter Ghana, South Africa, Tanzania, and Uganda while deepening its presence in Kenya.

ARC Ride’s innovative approach extends beyond just providing batteries; it’s building an integrated ecosystem that includes smart charging solutions, renewable energy integration, and partnerships with EV manufacturers like Yadea. By creating this backbone for electric transport, ARC Ride aims to accelerate the adoption of cleaner mobility across the continent.