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Originally published by The Kenyan Wall Streetbusiness
September 23, 2025
3h ago
French Fund Backs Kenya’s ARC Ride in US$10mn Bet on Electric Bodas
Mirova, has committed up to US$10 million five-year debt funding to ARC Ride, a Nairobi-based electric mobility startup..
✨ Key Highlights
French sustainable investment firm, Mirova, has committed up to US$10 million in five-year debt funding to ARC Ride, a Nairobi-based electric mobility startup, marking its first electric vehicle deal in Sub-Saharan Africa. This financing will support the deployment of over 600 battery-swapping cabinets and 25,000 batteries.
- Mirova's US$10 million debt funding is its first electric vehicle investment in Sub-Saharan Africa.
- ARC Ride, founded in 2019, operates as a Battery-as-a-Service operator, assembling two-wheelers locally.
- Each electric motorbike deployed is projected to cut roughly two metric tonnes of carbon dioxide emissions annually.
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