Arc Ride Raises $33.3M to Accelerate Electric Mobility Expansion Across Africa

Kenyan electric mobility company Arc Ride has raised $33.3 million in a combination of equity and debt funding, providing fresh capital to support its ambitious expansion across Africa, particularly into South Africa, Ghana, Tanzania, and Uganda.

The funding round was led by Norrsken22 and Novastar Ventures, marking a significant milestone in the growth of Arc Ride, which was founded in 2019 by British entrepreneur Joseph Hurst-Croft.

Arc Ride operates a battery-as-a-service (BaaS) model designed to transform two- and three-wheeler transportation across Africa. The model removes the need for customers to purchase batteries outright, helping reduce upfront costs and encourage electric vehicle adoption.

Through its network of smart battery-swap stations, the company provides riders with an accessible and cost-effective solution. Its clientele includes Yadea, a leading global electric vehicle manufacturer.

Expanding Across Africa

The new funding will strengthen Arc Ride’s operations in Kenya, including major urban centers such as Nairobi and the Western region, while supporting its entry into new markets in South Africa.

Following a successful pilot project in Cape Town, Arc Ride is now actively rolling out vehicles in Gauteng province, further strengthening its presence in the country.

The company plans to expand its battery-swapping network and add 5,000 motorcycles to its fleet, supporting its mission to make electric mobility more accessible across the continent.

Arc Ride founder Joseph Hurst-Croft highlighted the company’s vision of making electric mobility the default option for riders across Africa by ensuring it is more accessible, affordable, and practical than traditional petrol vehicles.

“This funding allows us to scale the infrastructure required to support that transition and to do so at pace,” he stated.

Ngetha Waithaka, a partner at Norrsken22, pointed to Arc Ride’s compelling unit economics and widespread acceptance among riders.

Waithaka added that the company’s robust technology, extensive data, and network effects position Arc Ride to potentially become the open standard within Africa’s mobility sector.