Ampersand, a company focused on electric motorcycle operations, has successfully raised $21.5 million in funding over the past year. This investment round included contributions from AHL Venture Partners, Everstrong Capital, and Beyond Capital Ventures, and it aims to support the company's expansion efforts in East Africa, where approximately 100 million people rely on 'boda bodas' (motorcycle taxis) for daily transportation [6ed839f9].
The electric motorcycles provided by Ampersand are reported to be 45% cheaper to operate compared to traditional gasoline-powered bikes and emit 75% less pollution, making them an attractive alternative for urban transport [6ed839f9]. CEO Josh Whale has emphasized the critical role of electrifying transportation in addressing urbanization challenges and reducing carbon emissions [6ed839f9].
Ampersand has set an ambitious goal to deploy five million electric motorcycles by 2033, significantly increasing its current operations, which already cover 3 million kilometers weekly [6ed839f9]. The company utilizes AI-enabled battery swapping technology, facilitating around 75,000 swaps each week, which enhances the efficiency and accessibility of their service [6ed839f9].
Investors have highlighted the dual environmental and economic impacts of Ampersand's operations, noting that the transition to electric motorcycles not only supports sustainability efforts but also creates economic opportunities in the region [6ed839f9]. This funding round marks a significant step forward for Ampersand as it continues to lead the charge in the electric mobility sector in East Africa, contributing to a cleaner and more sustainable transportation landscape [6ed839f9].