Ampersand, an electric transport energy company headquartered in Kigali, Rwanda, has secured $19.5 million in funding. Led by the Ecosystem Integrity Fund and supported by Acumen and Hard Edged Hope Fund, including $7.5 million in debt from the Africa Go Green Fund managed by Cygnum Capital, this investment aims to propel Ampersand’s expansion across the continent. The funding will facilitate increased production of electric motorcycle batteries, an expansion of battery swap stations in Kigali and Nairobi, and an acceleration of research and development efforts, focusing on next-generation batteries and improved battery-swap technology.
Since its establishment in 2016, Ampersand has been a trailblazer in deploying electric motorcycles in Africa, covering a collective 180 million kilometers and reducing carbon emissions by 8,000 tons. The company, operating in Rwanda and Kenya, currently serves 1,700 riders with 32 battery swap stations. Recognized for its commitment to affordability and sustainability, Ampersand's African-made battery fleet stands out for its cost-effectiveness in light-electric vehicles. With ambitious plans to serve one million vehicles daily by 2030, Ampersand is poised to significantly contribute to a greener Africa and create green jobs.