Sweden-based Opibus is a Swedish-Kenyan technology company that designs, manufactures, and distributes electric vehicles, raised USD 7.5 million on 2nd November.
Investors: Funding led by Silicon Valley fund, At One Ventures, along with Factor[e] Ventures and Ambo Ventures managed by former Google and Uber executives. In total, USD 7.5 million has been raised from closed fundraising, including USD5 million in equity and USD 2.5 million in grants.
Purpose of funding: As of next year, the investments will be used to prepare for scale-up and mass production of vehicles with a focus on strategic alignment and vision. The products will not only become more affordable and accessible but it will also be accompanied by one of the largest industrialization and welfare transitions in modern times in the region.
About Opibus
Founded in 2017, Opibus is a Swedish-Kenyan technology company developing, designing, and manufacturing electric vehicles to help transition Africa toward more sustainable transportation. By making the technology more cost-effective and simplifying deployment, Opibus’ vision is to make electric transport more accessible to a broader market. The company specializes in manufacturing all-electric conversion kits for fleet vehicles, such as trucks, buses, and public transportation along with electric motorcycles and energy systems. Choosing these focus areas maximizes impact since public transportation is among the most CO2-emitting vehicles on the market and is largely under-utilized.
By integrating all technologies, from energy development to the user driving the vehicle, an ecosystem solution is created for sustainable transportation.
What the founder has to say:
“We are proud to be backed by globally recognized investors providing a balance between deep-tech and emerging market expertise. We have together reached a clear strategic and visionary alignment – with the conviction that mass manufacturing of electric mobility solutions in Africa will not only make the products more accessible and affordable but also lead to one of the largest industrialization and welfare transitions of the region in modern time. The targets and objectives we’ve set for Opibus might seem bold, however, it is a mission that has become more important than ever. We have a responsibility to the coming generations and the earth at whole,” Filip Gardler, CEO and co-founder at Opibus.
What the investor has to say:
“Opibus is taking a fundamentals-first approach to delivering a compelling customer value proposition that is tailored for the African market. Their vehicles are half the cost compared to second-hand fossil fuel vehicles and perform better in harsh road conditions. We are excited to be supporting them in their growth phase to achieve true impact at scale,” Helen Lin, Principal at One Ventures.
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