Kenyan Electric Vehicle (EV) manufacturer Roam secures $24M in Series A funding, with an additional $10M debt facility from the U.S. Government’s International Development Finance Corporation (DFC).
Led by Equator Africa, the investment round includes contributions from prominent investors like Renew Capital and TES Ventures, empowering Roam to scale its operations and bolster local manufacturing capabilities.
Roam’s mission to create a greener, more sustainable future for Africa receives a significant boost with this investment, facilitating the transition of Africa’s public transport sector to effective electric buses and motorcycles.
Rajal Upadhyaya, Roam’s CFO, expresses gratitude for the support, emphasizing the company’s commitment to environmental impact and community development. The recent visit by Kenya’s President, William Ruto, to Roam Park further underscores the national and international recognition of Roam’s contributions to advancing green technology and manufacturing in the region.
