Kenyan EV startup Roam secures $24m to scale production
- Roam raises $24 million in equity and debt to expand local manufacturing capabilities and scale up production.
- The funding round was led by Equator Africa and included participation from other investors.
- Roam aims to capture the growing market for electric vehicles in Africa and contribute to a cleaner future.
The funding received by Roam is significant and demonstrates the growing interest and support for electric vehicles in Africa. With the projected increase in EV sales and the Kenyan government's target for electric vehicles, Roam is well-positioned to capture the market and contribute to a cleaner future. The company's focus on payment flexibility and battery ownership options also addresses the cost challenges associated with transitioning to electric vehicles.
