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ARC Ride

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uuid000058l

Namestring
ARC Ride
Legal namestring
Arc Ride Limited
Company typeenum
Private
Founded yearint
2020
Descriptiontext

ARC Ride is a Nairobi-based Battery-as-a-Service (BaaS) provider, founded in 2020, that operates a network of fixed battery-swapping cabinets enabling electric motorcycle and three-wheeler riders to exchange depleted batteries for charged ones on a per-swap usage basis. The company has deployed over 150 swapping stations across Nairobi, with plans to scale to more than 600 cabinets and 25,000 batteries. Its primary customer segment is Kenyan boda-boda (motorcycle taxi) drivers, who benefit from a reported 30–40% operating cost reduction versus petrol motorcycles and a 70–100 km range at approximately €1.77 per charge, without the upfront capital outlay for batteries that has historically constrained electric two-wheeler adoption.

ARC Ride monetizes through per-swap usage-based fees collected from riders at its cabinets. Its go-to-market combines direct operation of urban swap-station infrastructure with an OEM partnership strategy: a 2026 alliance with Yadea, the world's largest electric two-wheeler manufacturer by volume, co-launched the Kifa electric motorcycle at EV Expo Kenya 2026, embedding ARC Ride's swap network as Yadea's energy backbone in Kenya. A prior demonstration project with Japan's Musashi Seimitsu Industry — selected as a case study by Japan's METI — has laid groundwork for further international OEM collaboration and potential expansion into South Africa and Ghana.

The company has raised $20 million in disclosed funding across three institutional rounds in nine months: a $5 million equity investment from British International Investment (May 2025), a $10 million debt facility from Paris-based Mirova (September 2025), and a $5 million equity commitment from the International Finance Corporation as part of its Series A (February 2026). This capital base is earmarked for countrywide infrastructure expansion in Kenya and entry into additional East African markets, with IFC's involvement explicitly structured to de-risk further fundraising from global climate-focused investors.

Short descriptiontext

ARC Ride is a Nairobi-based Battery-as-a-Service provider, founded in 2020, operating 150+ battery-swapping cabinets that serve Kenyan boda-boda drivers through per-swap usage fees, with plans to scale to 600+ stations and expand across East Africa.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
11–50
akta.pro rankint
HeadquartersNairobi, Kenya
HQ citystring
Nairobi
HQ countrystring
Kenya
HQ regionstring
Africa
Markets served

Serves global market

Offices1 record

Each record includes

City, Country, Type, Description, Source

Keyword5 values
battery swapping services, electric motorcycle mobility, battery-as-a-service, e-mobility infrastructure, electric two-wheeler charging
Industry1 code
1E-Mobility Batteries & Swappable Packs (Consumer)
CodeCRACASAIPrimaryYes
NAICS code1 code
  • Automotive Equipment Rental and Leasing5321
SIC code1 code
  • Services-Auto Rental & Leasing (No Drivers)7510
Product category
Electric Mobility Battery-Swapping Services
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1Battery Swapping Fees
TypeUsage Based
Description

Riders pay per battery swap at ARC Ride's cabinets, generating recurring usage-based revenue. This replaces the need for riders to purchase expensive batteries upfront, lowering the barrier to electric motorcycle adoption while creating predictable per-transaction income for ARC Ride.

techtrendske.co.ke
Marketing channels1 record

Each record includes

Title, Type, Stage, Description, Source

Distribution channels2 records

Each record includes

Title, Type, Scope, Target buyer, Description, Source

Cost components6 values
Infrastructure, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Personnel
GTM typeB2C
B2C
Offering typeServices
Services
Core offering1 text field

ARC Ride operates a Battery-as-a-Service (BaaS) platform for electric motorcycles, deploying fixed battery-swapping stations and automated cabinets across urban centers where riders exchange depleted batteries for charged ones on a per-swap payment basis. The offering replaces upfront battery ownership costs with usage-based fees, enabling continuous motorcycle operation without charging downtime. The company also distributes the Kifa electric motorcycle through a partnership with Yadea.

Differentiator
Functional benefit
Problem solved
Quantifiable outcome1 of 2 values shown
  • 30-40% reduction in operating costs compared to petrol-powered motorcycles
+1 more record
Product overview1 text field

ARC Ride operates a Battery-as-a-Service platform for electric motorcycles, consisting of a network of battery swapping stations and cabinets across Kenya. The company combines its core BaaS infrastructure with the Kifa Electric Motorcycle (offered via Yadea partnership) to provide an integrated electric mobility solution. Riders access the battery-swapping network on a pay-per-use basis rather than purchasing batteries outright, enabling rapid battery exchanges without charging downtime.

Product and service3 records
1Battery-as-a-Service (BaaS)
CategoryCore Service
Description

Usage-based battery service for electric motorcycle riders that replaces upfront battery ownership with per-swap payments at fixed stations, addressing cost barriers to electric two-wheeler adoption in Kenya and enabling continuous operation without charging downtime.

2Kifa Electric Motorcycle
CategoryVehicle Product
Description

Electric motorcycle distributed by ARC Ride in partnership with Yadea (world's largest electric two-wheeler manufacturer by annual sales), enabling ARC Ride to offer vehicles supported by its battery-swapping infrastructure rather than requiring riders to source vehicles separately.

3Battery-as-a-Service Demonstration Project
CategoryService Validation Project
Description

Validated demonstration project of the Battery-as-a-Service model with Musashi Seimitsu Industry in Nairobi, planned for expansion to other Kenyan cities and additional African markets (South Africa, Ghana), with exploration of ride-sharing platform integration and battery repurposing solutions.

Scale indicator4 records

Each record includes

Type, Value, Description, Source

Partnership2 partners
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2026-01-01
Description

ARC Ride partnered with Yadea (world's largest electric two-wheeler manufacturer by annual sales volume) to provide battery-swapping services for their electric motorcycles launched at Autoexpo Kenya 2026 and EV Expo Kenya 2026. Yadea enters the Kenyan market without building its own charging infrastructure, relying on ARC Ride's swap network.

Strategic tierMinorTypeStrategic or Co-development PartnerAnnounced on2025-02-01
Description

Musashi Seimitsu Industry conducted an electric motorcycle and Battery-as-a-Service demonstration project with ARC Ride in Nairobi, completed in February 2025. The project was selected as a case study by Japan's Ministry of Economy, Trade and Industry (METI) under its Global South Future-Oriented Co-Creation Project. Plans include expansion to other Kenyan cities and across Africa (South Africa, Ghana), with exploration of ride-sharing platform integration and battery repurposing solutions.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight6 records

Each record includes

Type, Description

Peers10 records
TypeBroad incumbent
Description

Hero Electric is one of India's largest electric two-wheeler manufacturers. As an established OEM with global expansion ambitions, it represents a potential OEM partner or competitor for ARC Ride in commercializing electric motorcycles for African riders.

TypeBroad incumbent
Description

Yadea is the world's largest electric two-wheeler manufacturer by volume and is ARC Ride's strategic OEM partner for the Kifa motorcycle. As a global incumbent, it could potentially compete by building its own swap infrastructure, though it currently relies on ARC Ride's network in Kenya.

TypeEmerging player
Description

Roam is a Kenyan electric motorcycle manufacturer designing and assembling vehicles for the African market. While primarily an OEM rather than a swap-network operator, it operates in the same Nairobi e-motorcycle ecosystem as ARC Ride and serves overlapping customers.

TypeDirect peer
Description

Gogoro pioneered large-scale battery-swapping networks for electric scooters, primarily in Taiwan. It shares ARC Ride's core business model of building swap infrastructure to enable electric two-wheeler adoption without upfront battery costs.

TypeDirect peer
Description

Ampersand builds electric motorcycles with battery-swap infrastructure for taxi drivers in East Africa (Rwanda, Kenya). It uses a similar BaaS approach serving the same boda-boda customer segment as ARC Ride.

TypeEmerging player
Description

Sun Mobility operates battery-swapping networks for electric two- and three-wheelers in India. It shares ARC Ride's BaaS business model targeting commercial riders, though operating in a different geography with different vehicle types.

TypeEmerging player
Description

MAX operates motorcycle ride-hailing and delivery services in Nigeria, increasingly with electric vehicles. It targets the same commercial motorcycle rider segment as ARC Ride and is exploring electric fleet operations in West Africa.

TypeEmerging player
Description

BasiGo is a Kenyan electric mobility company focused on electric buses and public transport charging. While focused on larger vehicles, it shares ARC Ride's Nairobi base and addresses electric mobility for commercial transport operators.

TypeDirect peer
Description

Spiro operates battery-swapping networks for electric motorcycles across multiple African countries. It is the most direct competitor to ARC Ride, with comparable BaaS infrastructure, target customers (motorcycle taxi riders), and geographic focus on emerging African markets.

TypeDirect peer
Description

Zembo is a Uganda-based e-mobility company providing electric motorcycles and battery-swapping services to boda-boda riders. It competes directly with ARC Ride in East Africa on the same BaaS business model targeting motorcycle taxi drivers.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature2 records

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds8 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors8 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

ARC Ride

Electric Mobility Battery-Swapping Servicesarcrideglobal.com

ARC Ride is a Nairobi-based Battery-as-a-Service provider, founded in 2020, operating 150+ battery-swapping cabinets that serve Kenyan boda-boda drivers through per-swap usage fees, with plans to scale to 600+ stations and expand across East Africa.

What ARC Ride does

ARC Ride is a Nairobi-based Battery-as-a-Service (BaaS) provider, founded in 2020, that operates a network of fixed battery-swapping cabinets enabling electric motorcycle and three-wheeler riders to exchange depleted batteries for charged ones on a per-swap usage basis. The company has deployed over 150 swapping stations across Nairobi, with plans to scale to more than 600 cabinets and 25,000 batteries. Its primary customer segment is Kenyan boda-boda (motorcycle taxi) drivers, who benefit from a reported 30–40% operating cost reduction versus petrol motorcycles and a 70–100 km range at approximately €1.77 per charge, without the upfront capital outlay for batteries that has historically constrained electric two-wheeler adoption.

ARC Ride monetizes through per-swap usage-based fees collected from riders at its cabinets. Its go-to-market combines direct operation of urban swap-station infrastructure with an OEM partnership strategy: a 2026 alliance with Yadea, the world's largest electric two-wheeler manufacturer by volume, co-launched the Kifa electric motorcycle at EV Expo Kenya 2026, embedding ARC Ride's swap network as Yadea's energy backbone in Kenya. A prior demonstration project with Japan's Musashi Seimitsu Industry — selected as a case study by Japan's METI — has laid groundwork for further international OEM collaboration and potential expansion into South Africa and Ghana.

The company has raised $20 million in disclosed funding across three institutional rounds in nine months: a $5 million equity investment from British International Investment (May 2025), a $10 million debt facility from Paris-based Mirova (September 2025), and a $5 million equity commitment from the International Finance Corporation as part of its Series A (February 2026). This capital base is earmarked for countrywide infrastructure expansion in Kenya and entry into additional East African markets, with IFC's involvement explicitly structured to de-risk further fundraising from global climate-focused investors.

ARC Ride firmographics

Firmographics
Name
ARC Ride
Legal name
Arc Ride Limited
Website
https://arcrideglobal.com
Company type
Private
Founded year
2020
Operating status
Operating
Headcount range
11–50 employees
Short description
ARC Ride is a Nairobi-based Battery-as-a-Service provider, founded in 2020, operating 150+ battery-swapping cabinets that serve Kenyan boda-boda drivers through per-swap usage fees, with plans to scale to 600+ stations and expand across East Africa.
Ownership category
akta.pro rank

ARC Ride industry classification

Industry
Product category
Electric Mobility Battery-Swapping Services
NAICS
Automotive Equipment Rental and Leasing (5321)
SIC
Services-Auto Rental & Leasing (No Drivers) (7510)
akta.pro primary industry
E-Mobility Batteries & Swappable Packs (Consumer) (CRACASAI)

Keywords

  • Battery swapping services
  • Electric motorcycle mobility
  • Battery-as-a-service
  • E-mobility infrastructure
  • Electric two-wheeler charging

Where ARC Ride is headquartered

Location

Headquarters

HQ city
Nairobi
HQ country
Kenya
HQ region
Africa

Offices1 record

Markets served

ARC Ride business model

Business model
GTM type
B2C
Offering type
Services
Cost components
Infrastructure, Supply Chain, Operations, Technology or R&D, Marketing or Sales, Personnel

Revenue model

  1. Battery Swapping Fees: Riders pay per battery swap at ARC Ride's cabinets, generating recurring usage-based revenue. This replaces the need for riders to purchase expensive batteries upfront, lowering the barrier to electric motorcycle adoption while creating predictable per-transaction income for ARC Ride.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

ARC Ride product offering

Product offering

Core offering

ARC Ride operates a Battery-as-a-Service (BaaS) platform for electric motorcycles, deploying fixed battery-swapping stations and automated cabinets across urban centers where riders exchange depleted batteries for charged ones on a per-swap payment basis. The offering replaces upfront battery ownership costs with usage-based fees, enabling continuous motorcycle operation without charging downtime. The company also distributes the Kifa electric motorcycle through a partnership with Yadea.

Product overview

ARC Ride operates a Battery-as-a-Service platform for electric motorcycles, consisting of a network of battery swapping stations and cabinets across Kenya. The company combines its core BaaS infrastructure with the Kifa Electric Motorcycle (offered via Yadea partnership) to provide an integrated electric mobility solution. Riders access the battery-swapping network on a pay-per-use basis rather than purchasing batteries outright, enabling rapid battery exchanges without charging downtime.

Differentiator

Problem solved

Functional benefit

Products and services

  • Battery-as-a-Service (BaaS) Usage-based battery service for electric motorcycle riders that replaces upfront battery ownership with per-swap payments at fixed stations, addressing cost barriers to electric two-wheeler adoption in Kenya and enabling continuous operation without charging downtime.
  • Kifa Electric Motorcycle Electric motorcycle distributed by ARC Ride in partnership with Yadea (world's largest electric two-wheeler manufacturer by annual sales), enabling ARC Ride to offer vehicles supported by its battery-swapping infrastructure rather than requiring riders to source vehicles separately.
  • Battery-as-a-Service Demonstration Project Validated demonstration project of the Battery-as-a-Service model with Musashi Seimitsu Industry in Nairobi, planned for expansion to other Kenyan cities and additional African markets (South Africa, Ghana), with exploration of ride-sharing platform integration and battery repurposing solutions.

Quantifiable outcome

  • 30-40% reduction in operating costs compared to petrol-powered motorcycles
  • +1 more outcomes

Companies that use ARC Ride

Customer profile

Segments1 record

Ideal customer profiles1 record

ARC Ride technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature2 records

ARC Ride partnerships and signals

Strategic signal

Partnerships

Two partnerships are on record, tiered core and minor.

  • YadeacoreStrategic or Co-development Partner · 1 January 2026ARC Ride partnered with Yadea (world's largest electric two-wheeler manufacturer by annual sales volume) to provide battery-swapping services for their electric motorcycles launched at Autoexpo Kenya 2026 and EV Expo Kenya 2026. Yadea enters the Kenyan market without building its own charging infrastructure, relying on ARC Ride's swap network.
  • Musashi Seimitsu IndustryminorStrategic or Co-development Partner · 1 February 2025Musashi Seimitsu Industry conducted an electric motorcycle and Battery-as-a-Service demonstration project with ARC Ride in Nairobi, completed in February 2025. The project was selected as a case study by Japan's Ministry of Economy, Trade and Industry (METI) under its Global South Future-Oriented Co-Creation Project. Plans include expansion to other Kenyan cities and across Africa (South Africa, Ghana), with exploration of ride-sharing platform integration and battery repurposing solutions.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

ARC Ride competitors and assessment

Company assessment

Broad incumbents

  • Hero Electric: Hero Electric is one of India's largest electric two-wheeler manufacturers. As an established OEM with global expansion ambitions, it represents a potential OEM partner or competitor for ARC Ride in commercializing electric motorcycles for African riders.
  • Yadea: Yadea is the world's largest electric two-wheeler manufacturer by volume and is ARC Ride's strategic OEM partner for the Kifa motorcycle. As a global incumbent, it could potentially compete by building its own swap infrastructure, though it currently relies on ARC Ride's network in Kenya.

Emerging players

  • Roam: Roam is a Kenyan electric motorcycle manufacturer designing and assembling vehicles for the African market. While primarily an OEM rather than a swap-network operator, it operates in the same Nairobi e-motorcycle ecosystem as ARC Ride and serves overlapping customers.
  • Sun Mobility: Sun Mobility operates battery-swapping networks for electric two- and three-wheelers in India. It shares ARC Ride's BaaS business model targeting commercial riders, though operating in a different geography with different vehicle types.
  • MAX (Metro Africa Xpress): MAX operates motorcycle ride-hailing and delivery services in Nigeria, increasingly with electric vehicles. It targets the same commercial motorcycle rider segment as ARC Ride and is exploring electric fleet operations in West Africa.
  • BasiGo: BasiGo is a Kenyan electric mobility company focused on electric buses and public transport charging. While focused on larger vehicles, it shares ARC Ride's Nairobi base and addresses electric mobility for commercial transport operators.

Direct peers

  • Gogoro: Gogoro pioneered large-scale battery-swapping networks for electric scooters, primarily in Taiwan. It shares ARC Ride's core business model of building swap infrastructure to enable electric two-wheeler adoption without upfront battery costs.
  • Ampersand: Ampersand builds electric motorcycles with battery-swap infrastructure for taxi drivers in East Africa (Rwanda, Kenya). It uses a similar BaaS approach serving the same boda-boda customer segment as ARC Ride.
  • Spiro: Spiro operates battery-swapping networks for electric motorcycles across multiple African countries. It is the most direct competitor to ARC Ride, with comparable BaaS infrastructure, target customers (motorcycle taxi riders), and geographic focus on emerging African markets.
  • Zembo: Zembo is a Uganda-based e-mobility company providing electric motorcycles and battery-swapping services to boda-boda riders. It competes directly with ARC Ride in East Africa on the same BaaS business model targeting motorcycle taxi drivers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

ARC Ride social profiles

Digital presence

ARC Ride financial estimates

Financial estimate

Revenue estimate

Valuation estimate

ARC Ride leadership team

Management profile

Number of profiles

ARC Ride funding detail

Funding detail

Funding overview

Funding rounds8 records

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

ARC Ride M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ARC Ride

What does ARC Ride do?

ARC Ride operates a Battery-as-a-Service (BaaS) platform for electric motorcycles, deploying fixed battery-swapping stations and automated cabinets across urban centers where riders exchange depleted batteries for charged ones on a per-swap payment basis. The offering replaces upfront battery ownership costs with usage-based fees, enabling continuous motorcycle operation without charging downtime. The company also distributes the Kifa electric motorcycle through a partnership with Yadea.

Is ARC Ride a public or private company?

ARC Ride is a private company. It is classified as venture growth investor backed and is currently operating.

When was ARC Ride founded?

ARC Ride was founded in 2020. It employs 11 to 50 people.

Where is ARC Ride based?

ARC Ride is headquartered in Nairobi, Kenya, in the Africa region.

How does ARC Ride make money?

One revenue line is on record: battery Swapping Fees.

Who are ARC Ride's main competitors?

Broad incumbents on record are Hero Electric and Yadea. Emerging players are Roam, Sun Mobility, MAX (Metro Africa Xpress) and BasiGo. Direct peers are Gogoro, Ampersand, Spiro and Zembo.

Does ARC Ride have an API?

No public API is recorded for ARC Ride.

What industry is ARC Ride in?

ARC Ride's product category is Electric Mobility Battery-Swapping Services. Its primary akta.pro industry code is CRACASAI, E-Mobility Batteries & Swappable Packs (Consumer). Its NAICS code is 5321 and its SIC code is 7510.

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Live signals
TechTrendsKEARC Ride revenue quadruples to Sh560m in 2025- TechTrendsKEARC Ride reported 2025 revenue of Sh560 million, with motorcycle sales at Sh379.4 million and battery-swapping at Sh180.6 million. The company posted an operating loss of Sh375.8 million, and announced $33 million in funding for expansion into Tanzania, Uganda, Ghana, and South Africa.TechCentralElectric delivery bikes gain ground as petrol heads for R30/litreARC Ride launched an electric delivery bike in South Africa priced from R22,500, with battery swaps costing R50 for up to 110km. The bike saves about 23% on fuel compared to a 125cc petrol bike, and fuel prices may rise to R29.98/l, widening savings to 30%. The company plans to add 5,000 motorcycles to its fleet.Stuff South AfricaArc Ride’s electric Panther bike arrives in South Africa for R22,500Arc Ride launched its Panther electric bike in South Africa for R22,500, using a battery-as-a-service model with R50 swaps. The bike has a 5.1kW motor, 90km/h top speed, and 290kg payload. The company plans to replicate its 200+ swap stations locally.BusinessLIVEARC Ride launches battery-swapping electric motorcycles in SAARC Ride launched a battery-swapping service for electric motorcycles in South Africa, unveiling the Panther model in Cape Town. The Panther costs R22,500, and swapping a depleted battery costs R50, potentially cutting weekly operating expenses by up to 20%. The company plans to expand its battery-swapping infrastructure across the country.TechweezARC Ride’s $33.3 Million Bet on Electric Motorcycles Is Entering Its Next PhaseARC Ride raised $33.3 million, with 70% for battery-swapping infrastructure and 30% for electric motorcycles. The Nairobi-based company targets 10,000 bikes per city and is expanding to Kisumu, Uganda, and Tanzania.WeeTrackerKenya's ARC Ride Raises USD 33.3 M To Scale Electric Mobility Across AfricaARC Ride, a Nairobi-based electric mobility startup, raised $33.3M from a consortium led by Novastar Ventures and Norrsken22. The funding will support expansion across sub-Saharan Africa, adding 5,000 electric motorcycles and strengthening battery infrastructure. The company plans to enter Ghana, South Africa, Tanzania, and Uganda.Launch Base Africa‘We Aren’t Fighting Rival EVs’: Inside ARC Ride’s $33.3m Bet on Beating PetrolARC Ride raised $33.3 million in equity and debt, co-led by Novastar Ventures and Norrsken22, with DFI participation. CEO Joseph Hurst-Croft said the company targets a 30% cost saving over petrol bikes and plans to expand into South Africa, Ghana, Uganda, and Tanzania. He also aims to source 50% of energy from solar.TechawkARC Ride Raises $33.3M to Take On Spiro in Africa's EV RaceARC Ride closed a $33.3 million financing round, split between $23 million in equity and $10 million in debt, to expand its battery-swapping network and electric motorcycle fleet. The company plans to add 5,000 motorcycles and enter Ghana, South Africa, Tanzania, and Uganda, competing with Spiro, which has raised $270 million.Serrari GroupARC Ride Secures $33.3M to Scale African E-MobilityARC Ride, a Kenya-based electric mobility company, secured a $33.3 million financing package to expand its battery-swapping network and deploy more electric motorcycles across Africa. The round combines a $23 million Series A equity round with $10 million in debt, led by Novastar Ventures and Norrsken22, with Proparco contributing $1.5 million.Tech In AfricaKenyan Electric Mobility Startup ARC Ride Secures $33.3 Million to Scale Battery-Swapping Infrastructure Across AfricaARC Ride raised $33.3 million in equity and debt financing to expand its battery-swapping network for electric motorcycles across Africa. The capital will add 5,000 motorcycles and expand into Ghana, South Africa, Tanzania, and Uganda. The company aims to reduce battery costs and accelerate EV adoption.