Kenya-based BasiGo, an e-mobility startup that provides clean energy alternatives for public transportation, raised USD 1 million on 2nd November.
Investors: BasiGo has several investors backing it, including Climate Capital, a Silicon Valley venture capital firm, and Third Derivative, an accelerator for climate-related technologies.
Purpose of funding: The company has developed a financing model to accommodate the high acquisition costs of its vehicles. In this model, customers can purchase EV buses at diesel prices with a usage-based subscription fee that offsets the difference. A part of its plan is to sell its locally assembled electric buses with parts from China’s leading EV manufacturer, BYD Automotive. Later this year, the startup hopes that the first bus should arrive and the pilot program can begin. Also, it announced that its buses will be available as 25-seaters and 36-seaters. The range is about 250 kilometers, which is sufficient for a round trip every day.
About BasiGo
Founded in 2021 by Jit Bhattacharya and Jonathan Green, BasiGo is located in Nairobi, Kenya. As an electric alternative to diesel, BasiGo is an e-mobility startup looking to revolutionize public transport. Electric Buses offer bus operators a more economical, more convenient, and more reliable alternative to diesel buses. To help bus operators capitalize on electric drive, BasiGo offers complete electric bus solutions. It features safe battery technology, charging stations, and maintenance depots, and is more affordable and less costly to operate than diesel buses.
CEO & co-founder Jit Bhattacharya is no stranger to the electric vehicle industry, with more than a decade of experience developing lithium-ion batteries. As part of his career, he served as the CEO of Mission Motors in Silicon Valley and as a manager of Apple’s secret electric car project, Project Titan. Another founder, Jonathan Green, has a long history of providing renewable energy technologies to African companies. Once its presence in Kenya has been established, BasiGo plans to expand into other regions within East Africa.
What the Founder has to say:
“For years, diesel-powered buses have been the only viable solution for bus operators in Kenya. We are excited to provide public transport operators with a new option: state-of-the-art electric buses that are more affordable, and reliable, and reduce bus operator exposure to the rising costs of diesel fuel. The cost of electric bus technology has come down dramatically over the last 10 years, to the point where electric buses can offer significant savings compared to fossil-fuel buses. Our goal is to help bus owners in Kenya realize these savings, and in the process, help Kenya become a global leader in sustainable public transport,” said Jit Bhattacharya, CEO, and co-founder at BasiGo.
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