Ampersand, a Kigali, Rwanda, Africa-based electric transport energy company, received an investment from Beyond Capital Ventures.
The amount of the deal was not disclosed.
The company intends to use the funds to support its expansion plans, fortify its balance sheet, bolster its research and development initiatives, and drive the development of its manufacturing capabilities.
Led by Josh Whale (CEO) and Alp Tilev (CTO), Ampersand is an electric transport energy company with a commercial e-motorcycle fleet and battery swapping network. Founded in 2016, the company has a network that features stations for convenient battery swapping. Its system allows riders to access and swap out depleted batteries for fully charged ones in under two minutes.
Ampersand has more than 3200 employees and a presence in Rwanda and Kenya. Through testing and R&D, the company has grown its fleet to over 2,000 now and is expected to surpass 5,000 by the end of 2024.
FinSMEs
15/02/2024