eWAKA, a Nairobi, Kenya-based sustainable mobility startup, raised CHF500K loan.
The State Secretariat for Economic Affairs (SECO) Start-up Fund provided the loan.
The company intends to use the funds for the local production and promotion of its signature electronic bike known as the Shujaa.
Led by Celeste Vogel, Co-founder, Chief Executive Officer & General Counsel, eWAKA is spearheading sustainable mobility to enhance Africa’s economic prospects by harnessing the power of electric vehicles. The company offers multiple customer segments electric vehicle mobility options that decrease pollution such as greenhouse gases, Co2 and noise, while providing compelling affordability through low electricity prices as compared to fuel, off grid solar power system solutions and overall low maintenance costs.
The growth strategy built on several pilot projects including a Shujaa market introduction will enable eWAKA to expand to other parts of Kenya and East Africa in 2023. The bike has a front rack that can hold 15 kg and a back rack that can take 50 kg, a total load capacity of 65 kg.
FinSMEs
26/01/2023