Rwandan-based electric motorbike manufacturer Ampersand has raised an undisclosed fee in a funding round. The new fund, which represents fresh working capital, will allow the company to expand its operations across East Africa.
The round was backed by the British International Investment (BII), the UK’s development finance institution, supported by the Seedstars Africa Ventures, Gaia Impact, the Rwanda Green Fund and Raspberry Syndicate. Other investors include Ecosystem Integrity Fund, AHL Ventures, Acumen, HEHF and TotalEnergies.
Reacting to the development, the Founder and CEO, Josh Whale, noted that support from investors represents a powerful backing in its mission to electrify Africa’s most important form of transportation.
“With support from BII, Seedstars Africa Ventures, Gaia Impact, and Raspberry Syndicate, and ongoing support from our committed investors, we can double our battery fleet size by early 2026, delivering over 35,000 battery swaps daily and powering thousands of drivers with a cleaner, cheaper, and better-performing alternative to petrol motorcycles,” he added.
Founded in 2016, Ampersand is an electric vehicle company focused on the assembly and financing of electric motorcycles. The company is currently on a massive expansion drive aimed at introducing its motorcycles into markets across East Africa.
A pivotal part of the company’s ambition is to deploy up to 5 million electric motorcycles in Africa over the next 10 years. This was a goal it targeted after raising $2 million in a series A funding expansion round last year.
With the latest funding round, Ampersand will use the combined capital to support the expansion of its electric motorcycle fleet, battery swap network, and battery charging infrastructure across the East African region. Ampersand will also look to solidify its position in the African electric mobility sector.
The regional director for East Africa at BII, Seema Dhanani, explained that the investment in Ampersand is a testament to the vast ride of the electric mobility sector. According to him, the sector is a game-changer for inclusive, low-carbon growth, particularly in East Africa.
“Our investment in Ampersand reflects BII’s commitment to backing climate innovation that delivers real impact – supporting livelihoods, reducing emissions, and helping Africa lead in sustainable transport,” he said.
Another investor, Seedstars Africa Ventures, stressed that its decision to invest in the e-motorbike company is a result of its product quality and business model. He explained that the execution capacity of the entire Ampersand team is reflected in their efficiency and ability to deliver.
Ampersand’s strength lies in its ability to tune batteries into bankable financial assets, a unique evolution in the energy space. The company is also in place for an impressive commercial traction and customer-centric mindset.
Also Read: Rwandan e-motorcycle maker Ampersand raises $2 million to power East African expansion.
Ampersand’s ‘Alpha’ brand
Ampersand is known to be one of the leading players in the e-vehicle industry. Currently, the company has operations in Rwanda and Kenya. Since its emergence almost a decade ago, The company has powered over 5,700 electric motorcycles that are now travelling an average of 950,000 km daily.
In its ambition, the company unveiled the latest version of its flagship electric motorcycle, Alpha, formerly known as the Ampersand Motorcycle.
During the unveiling in May, the company described Alpha as a separate brand identity for the Ampersand motorcycle. The product reflects both its pioneering legacy as the first commercial electric motorcycle in Africa, and distinguishes the brand from its core energy technology and swap station business.
In addition, the company said the Alpha brand represents its commitment to deliver life-changing savings for its customers, improving air quality, and enhancing public health. With the brand, customers have the best e-motorcycles available and also provide clean and reliable energy to a growing list of mobility partners.
Last year, Ampersand signed a memorandum of understanding (MOU) with BYD, a battery producer, to collaborate in the electric motorcycle sector. Ampersand will purchase BYD’s high-tech battery cells to build around 40,000 electric motorcycles by the end of 2026. This is backed by a long-term goal of electrifying a large portion of Africa’s 30 million commercial motorbikes