ARC Ride raises $33.3M to expand Africa battery-swap network
What's the deal? ARC RideDealroom has a profile for this one. Try Dealroom →, an electric mobility platform, has raised $33.3 million in late-stage financing. Novastar VenturesDealroom has a profile for this one. Try Dealroom → and Norrsken22Dealroom has a profile for this one. Try Dealroom → led the round, with IFC, British International Investment (BII), and ProparcoDealroom has a profile for this one. Try Dealroom → joining as co-investors. Existing backers Musashi Seimitsu and TalantonDealroom has a profile for this one. Try Dealroom → added more capital.
Where's the money going? ARC Ride will use the funds to expand its battery-swapping network and electric transport services across Africa.
How it's structured: The round included a debt facility from BII's Kinetic programme and MirovaDealroom has a profile for this one. Try Dealroom →. Additional investors included Proparco, Talanton, Mirova, and bii.
Why it stands out: At $33.3 million, this round lands in the top quartile by size for the sector — a notable ticket for African electric mobility.
The signal: Battery-swapping is emerging as a core piece of Africa's electric transport infrastructure, and the mix of venture capital and development finance — from IFC, BII, and Proparco — points to growing institutional confidence in the model's ability to scale.
Read more: thecondia.com
Image credit: ARC Ride
