Electric mobility start-up Zeno has raised $25 million in Series A funding to expand the production of electric motorcycles and grow its battery-swapping network across East Africa.

The Kenya and Uganda-based company said the round combines equity and debt financing. About $20.5 million in equity was raised, led by the American firm Congruent Ventures, with participation from Active Impact Investments and Lowercarbon Capital.

The remaining $4.5 million was through a debt by Camber Road and Trifecta Capital, according to Zeno’s founder and CEO, Michael Spencer.

Mr Spencer, a former executive at the US electric vehicle firm Tesla, founded Zeno in 2022. The startup makes the Emara electric motorbike and operates an app-controlled battery charging and swapping network for riders.

The company says it has built more than 800 Emara motorbikes and established at least 150 charging locations in four cities in Kenya and Uganda.

Zeno produces 70 to 80 motorcycles per week and plans to use the new funding to increase its manufacturing capacity. It says demand for the motorcycles is rising, with more than 25,000 retail and fleet customers on a waiting list.

According to the company’s website, the Emara motorbike can travel about 100 kilometres on a single charge and carry up to 250 kilos. The bike goes for about $1,300 without a battery and $2,000 with one. Customers who do not buy a battery can subscribe to a monthly or pay-per-use battery-swapping plan.“Affordability of ownership is 50 percent that of petrol equivalents and more than 25 percent lower than other electric motorbike brands in our markets,” Spencer said while announcing the fundraising.

The investment brings the company’s total funding since its launch to $34.5 million, according to its profile on Crunchbase. Zeno raised $9.5 million in a seed round in September 2024, led by Lowercarbon Capital and Toyota Ventures.

The funding comes amid growing investor interest in Kenya’s electric mobility, driven by rising demand for clean transport and low operating costs for motorcycle riders.

Since last year, venture capitalists have poured money into electric vehicle companies and mobility-focused funds as Kenya emerges as one of Africa’s fastest-growing EV markets.

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