Ampersand
Ampersand is a Rwanda-based electric mobility company that builds electric motorcycles and a battery swapping network serving motorcycle taxi (boda-boda) drivers across Rwanda and Kenya, monetizing through swap fees, vehicle sales, and third-party network licensing.
- Company typePrivate
- Founded2016
- HeadquartersKicukiro, Rwanda
- Headcount251–500
- GTM typeB2C
- OfferingHardware or Manufacturing
What Ampersand does
Ampersand is a Rwandan-headquartered electric mobility company that designs, finances, and operates electric motorcycles and a proprietary battery swapping network for motorcycle taxi (boda-boda) drivers in East Africa. Founded in 2016 and headquartered in Kicukiro, Kigali, with operations in Nairobi, Kenya, the company serves a long-tail customer base of individual taxi drivers, addressing the structural problem that petrol drivers can spend more than $11/day on fuel and leasing while taking home as little as $1.60/day. Ampersand's technology stack combines purpose-built electric motorcycles (the Alpha model, plus third-party Wylex Roroship vehicles integrated post-2025), what the company describes as the world's first production lithium iron phosphate motorbike battery, a network of swap stations handling over 20,000 daily exchanges, and the proprietary AmperOps fleet management software that uses predictive AI on continuous battery telemetry.
Ampersand earns revenue across three streams: usage-based battery swap fees (the dominant recurring stream), direct sales of e-motorcycles to drivers, and, following the December 2025 pivot, network licensing to third-party manufacturers using its swap infrastructure. Go-to-market is direct-to-driver with a strong value proposition of 45% higher take-home pay, 50% lower power costs versus petrol, and swap times that are faster than refueling. The company employs 251–500 people and has powered 6,000+ e-motos, 400+ million cumulative km, and 14,000 tons of CO2e avoided. Capital sources include development finance institutions (DFC, BII), impact investors (Acumen, Shell Foundation, Gaia Impact Fund, JICA, USAID, UK AID, MFAT), and venture capital (AHL Venture Partners, Beyond Capital Ventures, Everstrong Capital, Ecosystem Integrity Fund), with cumulative disclosed funding exceeding $40M.
Ampersand firmographics
Firmographics- Name
- Ampersand
- Legal name
- Ampersand Rwanda
- Website
- https://ampersand.solar
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Ampersand is a Rwanda-based electric mobility company that builds electric motorcycles and a battery swapping network serving motorcycle taxi (boda-boda) drivers across Rwanda and Kenya, monetizing through swap fees, vehicle sales, and third-party network licensing.
- Ownership category
- akta.pro rank
Ampersand industry classification
Industry- Product category
- Electric Two-Wheeler Mobility and Battery Swapping Services
- NAICS
- Motorcycle, Bicycle, and Parts Manufacturing (336991), Battery Manufacturing (33591)
- SIC
- Motorcycles, Bicycles & Parts (3751)
- akta.pro primary industry
- Electric Motorcycles & Electric Scooters Manufacturing (IMACAEAB)
- akta.pro secondary industries
- E-Mobility Batteries & Swappable Packs (Consumer) (CRACASAI), EV & Hybrid Battery Service, Diagnostics & Reconditioning (TLAKAMAA)
Keywords
Where Ampersand is headquartered
LocationHeadquarters
- HQ city
- Kicukiro
- HQ country
- Rwanda
- HQ region
- Africa
Offices2 records
Markets served
Ampersand business model
Business model- GTM type
- B2C
- Offering type
- Hardware or Manufacturing
- Cost components
- Supply Chain, Technology or R&D, Infrastructure, Operations, Personnel, Marketing or Sales
Revenue model
- Battery-as-a-Service (Energy Network): Revenue generated from battery swapping services where drivers exchange depleted batteries for charged ones at swap stations. This is the core recurring revenue stream, with over 20,000 battery swaps performed daily.
- Electric Motorcycle Sales: Sale of purpose-built electric motorcycles (Alpha and Wylex Roroship models) to motorcycle taxi drivers. E-motos cost the same as petrol motorcycles to buy and finance, but cost half as much to power.
- Network Licensing: Following the December 2025 partnership with Wylex Mobility, Ampersand generates revenue by opening its battery swap network to third-party electric motorcycle manufacturers, positioning itself as an energy platform serving multiple manufacturers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Pay-as-you-go | Battery-as-a-Service - usage-based swapping |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels8 records
Ampersand product offering
Product offeringCore offering
Ampersand sells electric motorcycles (Alpha and Wylex Roroship models) and operates a battery-as-a-service energy network enabling motorcycle taxi (boda-boda) drivers in Rwanda and Kenya to swap depleted batteries at company-operated swap stations instead of refueling with petrol. The integrated system combines purpose-built electric motorcycles, the world's first production lithium iron phosphate motorbike battery, a network of swap stations performing 20,000+ swaps daily, and proprietary AmperOps AI fleet management software.
Product overview
Ampersand is Africa's leading EV energy tech company operating a platform-plus-services architecture. The core offering combines purpose-built electric motorcycles (Alpha, Wylex Roroship) with a proprietary battery swapping network and Battery-as-a-Service infrastructure. The integrated system includes the world's first production lithium iron phosphate motorbike battery and AmperOps fleet management software that uses predictive AI to optimize battery performance. The company recently transformed from a vehicle-only operator to an open energy platform by opening its battery swap network to third-party manufacturers like Wylex Mobility, enabling multiple electric motorcycle brands to operate on its infrastructure.
Differentiator
Problem solved
Functional benefit
Brands
- Alpha: Electric motorcycle model offered by Ampersand.
- Wylex Roroship
- AmperOps
Products and services
- Alpha Electric Motorcycle
- Battery Swap Network Africa's first open battery swap network for electric motorcycles, performing 20,000+ daily swaps. Enables drivers to exchange depleted batteries for charged ones faster than refueling a petrol motorcycle, with the network now accessible to third-party OEMs.
- Lithium Iron Phosphate (LiFePO4) Motorbike Battery Pack
- Wylex Roroship Electric Motorcycle Electric motorcycle manufactured by Wylex Mobility that operates on Ampersand's battery swap infrastructure across Kenya and Rwanda, representing the first third-party vehicle brand integrated into Ampersand's open energy platform.
Quantifiable outcome
- 45% increase in driver take-home pay compared to petrol motorcycles
- +5 more outcomes
Companies that use Ampersand
Customer profileNamed customers2 records
Segments1 record
Ideal customer profiles2 records
Ampersand technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability3 records
Feature4 records
Ampersand partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and supportive.
- TotalEnergiescorePartnership to integrate charging infrastructure at existing TotalEnergies fuel stations, enabling Ampersand to leverage established fuel retail network for battery swapping and charging access across East Africa.
- Wylex MobilitycorePartnership making Ampersand Africa's first electric transport company to open its battery swap network to third-party manufacturers. Wylex electric motorcycles now operate on Ampersand's existing swap infrastructure across Kenya and Rwanda, positioning Ampersand as an energy platform serving multiple manufacturers.
- StartupBootcampsupportiveStartup accelerator program that has supported Ampersand's development.
- SeedstarssupportiveStartup accelerator and investment platform supporting early-stage companies in emerging markets.
Scale indicators13 records
Recent moves8 records
Expansion highlights5 records
Ampersand competitors and assessment
Company assessmentBroad incumbents
- Gogoro: Gogoro is the global pioneer of electric two-wheeler battery swap networks, operating at massive scale in Taiwan and expanding across Asia. It is the most proven comparator for Ampersand's battery-swap-as-a-service business model, though operating in developed Asian markets.
- NIO Power: NIO operates a large-scale battery-swap network for passenger EVs in China. Although focused on cars, its asset-light battery-swap-as-a-service operating model is the cleanest public benchmark for Ampersand's strategic direction as an energy platform.
- NIU Technologies: NIU is a publicly listed global e-scooter manufacturer with operations in Europe, Asia, and Latin America. It is comparable to Ampersand on the e-motorcycle/e-scooter product side and serves as a benchmark for hardware-led e-mobility businesses.
Emerging players
- Hero Electric: Hero Electric is one of India's largest electric two-wheeler manufacturers targeting commuter and commercial use. While primarily a vehicle manufacturer rather than an energy platform, it represents a potential OEM partner similar to Wylex in Ampersand's open network.
Direct peers
- MAX (Metro Africa Xpress): MAX provides motorcycle ride-hailing and delivery services in Nigeria using a mix of owned and driver-operated motorcycles. It addresses the same motorcycle taxi / boda-boda economic segment as Ampersand, though with a different geographic and operating focus.
- Yulu: Yulu operates shared electric two-wheelers with battery swapping in Indian cities, targeting gig-economy riders. It mirrors Ampersand's model of combining purpose-built electric vehicles with swap infrastructure to serve income-constrained drivers.
- SUN Mobility: SUN Mobility operates battery-swapping infrastructure for electric two- and three-wheelers across India. It offers a comparable open-platform Battery-as-a-Service model for multiple OEM partners, paralleling Ampersand's strategic pivot.
- Bounce Infinity: Bounce Infinity offers electric scooters with a battery-swap option in India, operating in the same micro-mobility / gig economy segment. Its swap-as-a-service offering is structurally similar to Ampersand's energy network.
- Spiro: Spiro operates the largest pan-African electric motorcycle and battery-swap network, active in Rwanda, Kenya, Uganda, Nigeria, Benin, Togo, and beyond. It is Ampersand's most direct competitor, running an identical vehicle-plus-swap-network model targeting boda-boda drivers.
Regional players
- Opibus: Opibus is a Swedish-Kenyan company that converts vehicles to electric and manufactures electric buses and motorcycles for African markets. It is a regional peer in the African e-mobility space with comparable electric motorcycle ambitions.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Ampersand social profiles
Digital presenceAmpersand financial estimates
Financial estimateRevenue estimate
Valuation estimate
Ampersand leadership team
Management profileNumber of profiles
Profiles3 records
Ampersand funding detail
Funding detailFunding overview
Funding rounds18 records
Investors25 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Ampersand M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Ampersand
What does Ampersand do?
Ampersand sells electric motorcycles (Alpha and Wylex Roroship models) and operates a battery-as-a-service energy network enabling motorcycle taxi (boda-boda) drivers in Rwanda and Kenya to swap depleted batteries at company-operated swap stations instead of refueling with petrol. The integrated system combines purpose-built electric motorcycles, the world's first production lithium iron phosphate motorbike battery, a network of swap stations performing 20,000+ swaps daily, and proprietary AmperOps AI fleet management software.
Is Ampersand a public or private company?
Ampersand is a private company. It is classified as venture growth investor backed and is currently operating.
When was Ampersand founded?
Ampersand was founded in 2016. It employs 251 to 500 people.
Where is Ampersand based?
Ampersand is headquartered in Kicukiro, Rwanda, in the Africa region.
How does Ampersand make money?
Three revenue lines are on record. Battery-as-a-Service (Energy Network) is the primary driver. The others are electric Motorcycle Sales and network Licensing.
Who are Ampersand's main competitors?
Broad incumbents on record are Gogoro, NIO Power and NIU Technologies. Hero Electric is listed as an emerging player. Direct peers are MAX (Metro Africa Xpress), Yulu, SUN Mobility, Bounce Infinity and Spiro. Opibus is listed as a regional player.
Does Ampersand have an API?
No public API is recorded for Ampersand.
What industry is Ampersand in?
Ampersand's product category is Electric Two-Wheeler Mobility and Battery Swapping Services. Its primary akta.pro industry code is IMACAEAB, Electric Motorcycles & Electric Scooters Manufacturing, with a secondary code of CRACASAI, E-Mobility Batteries & Swappable Packs (Consumer). Its NAICS code is 336991 and its SIC code is 3751.