Kenyan startup ARC Ride has obtained a $10 million debt investment to expand its innovative battery-swapping network. The funding, provided by Paris-based impact investor Mirova, will fuel a major expansion of the company’s infrastructure across Kenya. ARC Ride’s unique Battery-as-a-Service model allows motorcycle riders to quickly exchange depleted batteries for fully charged ones, cutting vehicle costs, eliminating fuel expenses, and easing range anxiety. This investment, the first of its kind from Mirova’s Gigaton Fund, will enable the rollout of over 600 new swapping stations and 25,000 batteries across Kenya. This expansion is a major step toward making clean, affordable transportation a widespread reality, showcasing a scalable solution that benefits both the environment and the livelihoods of riders.
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