BasiGo, An E-mobility Startup Based In Nairobi, Has Launched After Raising $1 Million In A Pre-seed Round
BasiGo, an e-mobility startup based in Nairobi, has launched after raising $1 million in a pre-seed round
BasiGo, an e-mobility start-up based in Nairobi, Kenya, officially began operations today. This follows a $1 million pre-seed funding round in which the company invested.
Over a 250-kilometer route, the company will operate buses with capacities of 25 and 36 passengers, respectively. According to the company, this will be sufficient to cover daily round-trip transportation needs. Providing a clean energy alternative for Kenya's public transportation industry, which is currently dominated by fossil-fuel buses, is the mission of BasiGo.
"The only viable option for bus operators in Kenya has long been diesel-powered buses, which have been in use for decades. With the introduction of state-of-the-art electric buses, public transportation operators will have a more affordable and dependable option while also mitigating their exposure to rising diesel fuel costs, we are thrilled to announce "Jit Bhattacharya, CEO and co-founder of BasiGo, shared his thoughts.
Additional plans announced by the startup include the sale of locally assembled electric buses that will be built with components from BYD Automotive, China's largest EV manufacturer. Following the arrival of the first bus, it is anticipated that the pilot program will begin later this summer.
Based on the high cost of its vehicles, BasiGo has developed a financing model to help offset this expense. Customers will be able to purchase the company's electric buses for the same price as their diesel counterparts, with the difference being offset by usage-based subscription fees, under this model.
"Because of significant cost reductions in electrical bus technology over the last 10 years, electric buses can now offer significant cost savings when compared to conventional buses powered by fossil fuels. Ultimately, our goal is to assist bus owners in Kenya in realizing these savings and, in doing so, to assist Kenya in becoming a global leader in environmentally friendly public transportation "Bhattacharya went on to explain.
This initiative, which will see the introduction of electric buses in Kenya, is in response to the growing demand for clean energy in public transportation in the country. On-demand taxi companies such as Bolt and Uber have taken steps to reduce their reliance on fossil fuels, which are strongly associated with air pollution. By offering electric vehicle options, they are gradually weaning themselves away from fossil fuels.
Based on the success of its initial launch in Kenya, BasiGo intends to expand into additional markets throughout East Africa. A number of investors in the company include Climate Capital, a venture capital firm based in Silicon Valley, and Third Derivative, a climate-technology accelerator based in New York.
BasiGo's chief operating officer, Alex Mwaura, believes that the company will be able to fuel public transportation with renewable energy resources from within the country.
"Our country, Kenya, is unique in that we have a plentiful supply of renewable energy that can be used to help the public transportation sector become more sustainable in the long run. It is exciting to see the rapid transformation taking place in Nairobi's transportation sector, and we look forward to working with the government and other relevant agencies to expand the infrastructure for electrified public transit."
Electric vehicle manufacturer Opibus and NopeaRide — the country's first fully electric taxi company — are among the other EV startups in Kenya, both of which are establishing charging stations throughout the city.
