Electric vehicle (EV) start-up Roam Motors has announced securing Kes 3.4 billion in equity and debt from private and institutional investors.

Equator Africa led the Series A round and includes investments from At One Ventures, TES Ventures, Renew Capital, The World We Want, and One Small Planet, among other private and institutional investors.

Additionally, the U.S. government, through the International Development Finance Corporation (DFC) committed to provide Roam with an up to Kes 1.45 billion debt facility.

“Funds from this round will be invested in expanding local manufacturing capabilities in Kenya, scaling up production at the new 10,000 sqm Roam Park facility, investing in research and tooling for cost efficiencies, and streamlining local and global supply chain networks,” the company said.

Kenya-based Swedish Roam, which entered the local e-mobility sector in 2017, develops, designs, and deploys electric vehicles such as motorbikes and buses tailored to Africa.

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Roam’s products include the Roam Air motorcycle, two buses, Roam Rapid and Roam Move, and energy and public charging systems.

In 2021, the company shifted from EV conversions to assembly and claimed it was the first to deliver locally produced electric motorcycles and buses on the continent.