Ethiopian electric vehicle (EV) manufacturer Dodai has secured $4 million Series A funding from Nissay Capital, Musashi Seimitsu, and Inclusion Japan. The investment will predominantly be allocated to importing electric motorcycle parts and lithium batteries, with a focus on launching a battery-swapping system by the end of 2024. This funding marks a significant milestone for Dodai, as it aligns with Ethiopia's green initiatives, including the government's plan to ban fuel-powered vehicles. Dodai aims to revolutionize mobility in Ethiopia, where it assembles and sells electric motorcycles, contributing to the country's transition to electric transportation. Musashi Seimitsu's collaboration and investment signify a strategic effort to address regional mobility challenges and expand e-mobility solutions in Africa.
Dodai has raised $6.2 million to date, showcasing the growing interest in the country's startup ecosystem. With a focus on electric bikes capable of running up to 150 kilometers per charge and lithium batteries lasting up to eight years, Dodai aims to provide sustainable transportation solutions while supporting the government's green initiatives. The partnership between Dodai and Musashi Seimitsu signals a commitment to further innovation in the African market, with plans for future collaborations and the development of EV scooters and three-wheeled vehicles. Ethiopia's transition to electric vehicles aligns with its Logistics Master Plan, emphasizing Green Transport and the establishment of charging infrastructure, reflecting a broader global trend towards sustainable mobility solutions.