Kampala-based electric motorcycles startup Zembo has received commitment for more than €3 million ($3.4 million) from PIDG company InfraCo Africa, together with a consortium including DOB Equity and Mobility 54, the corporate venture capital arm of Toyota Tsusho Corporation.
Zembo enables drivers to buy electric motorcycle taxis (boda boda) or to pay for them on a lease-to-own basis. The investment will enable the company to grow the number of electric motorcycles on the road by about 2,000 and will support development of an additional 60 charging and battery swapping stations across the city.
InfraCo Africa CEO Gilles Vaes said the firm had earlier invested in an all-electric taxi-hailing service in Nairobi and that its experience of the e-mobility sector will help develop Zembo’s offering in Uganda.
“Zembo has a great track record of delivering electric two-wheeler vehicles to the market and our joint effort with DOB Equity and Mobility 54 to scale and develop the business will expand the company’s ability to cut urban air pollution, create jobs and promote economic development in Kampala,” Vaes said.
Casablanca-based B2B marketplace Sle3ti, which helps retailers to order directly from suppliers and distributors of consumer goods, has scooped up MAD12 million ($1.3 million) from an investment fund of the Richbond Group.
Sle3ti CEO and co-founder Ayoub Harij said this is the largest seed funding round by Moroccan investors.
Last month, Moroccan B2B e-commerce platform Chari.ma had raised $5 million in the largest venture funding round in the country this year and the biggest-ever seed funding round in the North African nation. This was led by offshore investors.
Richbond Group is one of the biggest conglomerates in Morocco and had previously picked up a large stake in money transfer venture Cash Plus.
One-year-old Egyptian ed-tech platform Educatly has raised pre-seed funding of $1 million from Enterprise Ireland, Falak Startups and angel investors.
Educatly helps students to search, compare and apply to over 120,000 higher education opportunities globally. The firm claims it has over 100,000 users from 190 countries worldwide.