ARC Ride raises $33.3M as battery swapping becomes central to its African electric mobility expansion
ARC Ride has raised $33.3 million in a new financing round as the African electric mobility company moves to scale its battery-swapping network, adding thousands of electric motorcycles and entering new markets across sub-Saharan Africa.
The round was led by Novastar Ventures and Norrsken22, with the International Finance Corporation (IFC), British International Investment (BII) and Proparco participating. Existing investors Musashi Seimitsu and Talanton also provided additional capital. The financing includes a debt facility from BII’s Kinetic programme and Mirova.
ARC Ride plans to use the new funding to broaden its operations in Kenya, including Nairobi and the western region, while entering Ghana, South Africa, Tanzania and Uganda. The company will also add 5,000 electric motorcycles to its fleet and invest in battery-swapping infrastructure, battery lifecycle management and technology to improve network reliability.
The funding comes as electric two- and three-wheelers gain ground in African cities, where motorcycles and other informal transport services play a major role in urban mobility. ARC Ride operates a Battery-as-a-Service (BaaS) model that allows riders to swap depleted batteries at dedicated stations rather than buying and charging batteries themselves.
The model is designed to reduce the upfront cost of switching from petrol-powered motorcycles to electric vehicles while limiting charging downtime for commercial riders. ARC Ride said its battery-swapping network is already used by electric vehicle manufacturers including Yadea.
The company intends to advance automated battery swapping, smart charging and renewable energy integration as it expands its network.
Jo Hurst Croft, founder of ARC Ride, said the funding would help the company build the infrastructure needed to make electric motorcycles more practical and affordable for riders across the continent.
“This funding reinforces our vision of building a robust, scalable energy and mobility network across Africa. Our ambition is to make electric mobility the default choice for riders across Africa by making it more accessible, more affordable and more practical than petrol alternatives.”
The latest investment also reflected growing interest from development finance institutions and impact investors in Africa’s electric mobility market, particularly infrastructure that can support large-scale EV adoption.
Steve Beck, co-founder and managing partner at Novastar Ventures, said reliable battery-swapping infrastructure remains one of the major barriers to electric mobility adoption in Africa.
“ARC Ride is helping solve one of the biggest barriers to electric mobility in Africa: reliable, extensive battery-swapping infrastructure,” Beck said.
BII, which is providing both equity and debt financing, said its investment supports the development of infrastructure needed to accelerate electric vehicle adoption while creating economic opportunities for riders.
“Electric mobility is essential to building cleaner, more sustainable transport across Africa and is therefore a key pillar of our climate investment strategy. Through our deepening partnership with ARC Ride, BII is supporting the two-wheeler infrastructure needed to accelerate EV adoption, reduce emissions and improve air quality.” said Chris Chijiutomi, managing director and head of Africa at BII.
ARC Ride said the new capital will allow it to focus on expanding its infrastructure footprint while improving operational efficiency and the economics of its electric mobility platform.
The company is positioning battery swapping as a key part of Africa’s transition to electric transport, particularly for commercial motorcycle riders who depend on their vehicles for daily income and cannot afford long charging periods.
With the latest financing, ARC Ride is entering its next phase of expansion, with a focus on scaling its battery-swapping network and electric motorcycle fleet across multiple African markets.
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