ARC Ride raises $33.3 million to expand electric mobility infrastructure in Africa
ARC Ride, an electric mobility platform, has raised $33.3 million in new financing. The company will use the money to expand its battery swapping network and electric transport ser
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ARC Ride, an electric mobility platform, has raised $33.3 million in new financing. The company will use the money to expand its battery swapping network and electric transport services across Africa.
Novastar Ventures and Norrsken22 led the round. IFC, British International Investment (BII) and Proparco joined as co-investors. Existing investors Musashi Seimitsu and Talanton also put in more capital. The round included a debt facility from BII’s Kinetic programme and Mirova.
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