Rwandan Electric Motorcycle Company Ampersand Secures $19.5 Million Investment
- Ampersand secured a significant investment of $19.5 million through debt and equity funding.
- The funding round was led by the Ecosystem Integrity Fund and included participation from notable investors such as Acumen and the Hard Edged Hope Fund.
- Ampersand specializes in the production and financing of electric motorbikes, which are more efficient and cost-effective than petrol-powered motorbike taxis in East Africa.
The investment secured by Ampersand is a significant milestone for the company and the electric vehicle sector in East Africa. With the funding, Ampersand will be able to further expand its operations and deliver more electric motorcycles, contributing to the growth of e-mobility and the phasing out of fuel subsidies. The support from notable investors and the enthusiasm of the Ecosystem Integrity Fund highlight the potential and importance of Ampersand's innovative approach.
