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  • Becky Carter posted in the group Investment

    2 months, 2 weeks ago
    Mobility 54 Investment SAS (Mobility 54) – the corporate venture capital subsidiary of Toyota Tsusho Corporation and CFAO SAS has invested $1 million in BasiGo, a startup in the electric bus business in Kenya.

    Toyota Tsusho will accelerate the electric mobility business by utilizing the innovative technologies of the startup and combining them with Toyota Tsusho Group’s automobile businesses in Africa.

    Established in Kenya in 2021, BasiGo operates the electric bus business with importing and selling electric buses, leasing batteries, and providing charging stations, etc., with the aim of achieving carbon neutrality in Africa and improving the profitability of public transportation operators

    In February this year, the startup announced a $4.3 million Seed funding round, led by Novastar Ventures with participation from several Silicon Valley investors including: Moxxie Ventures, Nimble Partners, Spring Ventures, Climate Capital, and Third Derivative.

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Becky Carter is a freelance journalist who hangs around for tips at the bustling intersection of startup news, funding, technology, business, and social impact.

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