Kenya-based ARC Ride raised a $33.3 million Series A announced September 8, 2026, co-led by Norrsken22 and Novastar Ventures with IFC, British International Investment and Proparco participating. The company builds electric motorcycles and a battery-swapping network for African urban mobility.
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Nairobi's ARC Ride raises $33.3M Series A for battery-swap electric mobility
Why this matters for founders
Signals that development-finance institutions are backing hardware-plus-network models in emerging markets; founders eyeing Africa can point to blended DFI capital as a fundable path for asset-heavy climate businesses.
Source: Tech Startups
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