Kenya-based electric vehicle (EV) startup BasiGo recently disclosed a substantial investment of $3 million ( Sh.396 million) from CFAO, the parent company of Toyota.
Founded in 2021 by Jit Bhattacharya as CEO and Jonathan Green as CFO, BasiGo specializes in providing electric buses for public transport in Kenya and Rwanda, operating on a pay-as-you-drive model.
The infusion of capital from CFAO marks a pivotal moment for BasiGo’s growth trajectory.
Since introducing its inaugural electric bus to the local public transport landscape in 2022, the company has been steadfast in its mission to promote e-mobility in East Africa.
This latest investment will significantly bolster BasiGo’s efforts to expand its electric vehicle offerings across both Kenyan and Rwandan markets.
CFAO Motors, a prominent distributor of Toyota vehicles, as well as Suzuki vehicles, Yamaha motorbikes, and Hino trucks in Kenya, serves as the official distributor for BasiGo’s electric buses.
As a subsidiary of the France-based CFAO Group, CFAO Motors brings substantial expertise and resources to support BasiGo’s endeavors in the region.
Previously, BasiGo secured a notable investment of $5 million (Sh.660 million) from British International Investment (BII) to facilitate the delivery of 100 buses within Kenya.
This funding, allocated through the Climate Innovation Facility of the British development finance institution, underscores BasiGo’s commitment to advancing climate-friendly transportation solutions in emerging markets.
Moreover, BasiGo’s collaboration with Mobility54, a venture capital arm of Toyota Tsusho, further solidifies its position in the electric vehicle market.
In November 2022, the company received $6.6 million (Sh.804 million) from Mobility54 to commence commercial delivery of locally manufactured electric buses and associated charging infrastructure.
With a track record of delivering over 19 electric buses to public transport operators in Nairobi, BasiGo sets ambitious targets for future expansion.
The company aims to deploy at least 1000 electric buses across Kenya, Uganda, and Tanzania by the close of 2025, underscoring its commitment to sustainable mobility solutions in the region.
