Home eMobility Uganda-based startup Zembo raises USD 3.4 million in the latest funding round

Uganda-based startup Zembo raises USD 3.4 million in the latest funding round

Uganda-based Zembo, an e-mobility startup that manufactures, sells and distributes electric motorcycles, raised USD 3.4 million on 12th November.

Investors: CFAO group, DOB Equity, Mobility 54 Investment SAS, and InfraCo Africa have invested USD 3.4 million in the company.

Purpose of funding: With the new investment, Zembo will be able to scale up and attract further private sector investment in the future while maintaining high standards of health and safety and business development. The company will increase the number of electric motorcycles in use by approximately 2,000 and support the construction of more than 60 Zembo charging stations throughout the city. Zembo’s model will likely be replicated in other African cities as part of the global effort to achieve net-zero carbon emissions.

About Zembo

Founded in 2018 by Étienne Saint-Sernin & Daniel Dreher, Zembo is located in Kampala, Uganda. Zembo is an e-mobility startup that manufactures, sells, and distributes electric motorcycles. The expansion of the electric motorcycle taxi fleet in Kampala indicates there is no need to purchase motorbike batteries or wait for them to be charged. Instead, drivers can replace drained batteries with fully charged ones at Zembo’s charging stations and keep travelling. A solar PV charging station will be added off-grid in Uganda, ensuring that the nation’s grid is powered by 92% renewable energy and reducing vehicle emissions effectively.

What the investor has to say

“We’re excited to partner with impact-focused institutions like InfraCo Africa, DOB Equity, and Mobility 54 to continue developing electric boda bodas and charging stations for our customers. Zembo’s mission to improve incomes for Uganda’s boda boda riders while cutting air pollution is shared by our supporters and is a driving force for this partnership. We look forward to continuing to serve our customers and making sustainable mobility a reality in Uganda,” said Étienne Saint-Sernin, co-founder & CEO at Zembo.

What the investors have to say

“Zembo is an exciting transaction for InfraCo Africa. Having invested in an all-electric taxi-hailing service in Nairobi, we are pleased to bring our experience of the e-mobility sector to co-developing Zembo’s offering in Uganda. Zembo has a great track record of delivering electric two-wheeler vehicles to the market. Our joint effort with DOB Equity and Mobility 54 to scale and develop the business will expand the company’s ability to cut urban air pollution, create jobs and promote economic development in Kampala. The project also aligns with global efforts to improve air quality and to achieve net-zero emissions by mid-century,” Gilles Vaes, CEO at InfraCo Africa.

For more extensive analysis and Market Intelligence reports feel free to approach us or visit our website: Venture Capital Market Intelligence Reports | VCBay.

We try our best to fact-check and bring the best, well-researched, and non-plagiarized content to you. Please let us know

-if there are any discrepancies in any of our published stories,

-how we can improve,

-what stories you would like us to cover and what information you are looking for, in the comments section below or through our contact form! We look forward to your feedback and thank you for stopping by!

Next Article

Previous articleIndia-based Online BioFuel Marketplace Buyofuel raises Over USD 215K in Seed round
Next articleMexico-based fintech startup Stori raises USD 200 million in Series C financing
Varun Nath writes about the startup ecosystem on VC Bay. A student at Delhi University, he is pursuing a Bachelor of Commerce degree. In pursuit of exploring the world of finance and technology. You can reach him at varunnath155@gmail.com


Please enter your comment!
Please enter your name here