Powering a Green Revolution: ARC Ride’s Major Funding Boost

Kenyan electric mobility startup ARC Ride has announced the completion of a US$33.3 million financing round, setting the stage for accelerated expansion across Sub-Saharan Africa.

The company operates on a Battery-as-a-Service (BaaS) model that enables riders to switch to electric motorcycles and swap depleted batteries in minutes – addressing key barriers like upfront costs, range anxiety, and fuel expenses. This approach makes electric transport more accessible and practical for commercial riders.

Strategic Investment Backing

The funding was led by Novastar Ventures and Norrsken22, with significant contributions from IFC, British International Investment (BII), Proparco, Musashi Seimitsu, Talanton, BII’s Kinetic programme, and Mirova. This diverse investor base underscores the growing confidence in ARC Ride’s business model.

Expansion Plans

The new capital will fuel geographic expansion into Ghana, South Africa, Tanzania, and Uganda. Key priorities include:

• Building out battery-swapping infrastructure
• Developing digital platform capabilities
• Scaling operations across existing markets
• Expanding the electric vehicle fleet

“This funding reinforces our vision of building a robust, scalable energy and mobility network across Africa,” said ARC Ride founder Jo Hurst Croft. “Our ambition is to make electric mobility the default choice by making it more accessible, affordable, and practical than petrol alternatives.”

The company’s BaaS model addresses a critical gap in the market – providing reliable battery access that enables widespread adoption of electric motorcycles for commercial use.

Steve Beck, co-founder of Novastar Ventures, noted that ARC Ride is helping solve one of the biggest barriers to electric mobility in Africa: “They’ve built a model that’s proving itself and expanding across multiple countries – we’re proud to partner with them as they accelerate this transition.”