Electric vehicle start-up BasiGo Has announced a $3 million boost from Toyota's parent company, CFAO.
The company was founded by Jit Bhattacharya (CEO) and Jonathan Green (CFO) in 2021 and offers electric buses for public transport in Kenya and Rwanda.
CFAO Motors is Kenya's official distributor of new Toyota vehicles, Yamaha motorcycles, and Hino trucks. It is a subsidiary of the CFAO Group, headquartered in France.
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BasiGo received $5 million from British International Investment (BII) in December last year to supply 100 buses.
This was part of the British Development Finance Institution's Climate Innovation Facility, which aims to accelerate climate innovation in emerging markets.
The bus firm obtained $6.6 million (Ksh.804 million) from Mobility54 in 2022. Toyota Tsusho's venture capital (VC) arm, to start commercial deliveries of locally produced electric buses and charging infrastructure.
The company has supplied over 19 electric buses to Nairobi's public transport providers and expects to have at least 1000 electric buses in Kenya, Uganda, and Tanzania by the end of 2025.
