East African mobility startup Zeno secures $25 M to expand its EV, charging operations
Zeno, an East African provider of distributed energy services and electric mobility, has raised US $25 million to grow its electric vehicle and charging operations throughout the region.
Michael Spencer, a former Tesla executive, founded Zeno in 2022 to offer multi-modal, interoperable charging for two- and three-wheel electric vehicles, a market where adoption is heavily influenced by both range and downtime. The strategy aims to provide greater flexibility than swap-only models by combining home charging, public plug-in fast chargers, and small-footprint battery swap stations.
With a network of more than 150 charging stations and operations in four East African cities, Zeno is currently planning additional expansion in the region following the completion of a US$25 million funding round. More than a dozen new and current backers participated in the equity and debt round, which was led by climate-tech investor Congruent Ventures. Additionally, the business obtained debt facilities from Camber Road and Trifecta Capital.
In order to address a waitlist of over 25,000 retail and fleet customers, Zeno claims that the funding will be used to support deeper network build-out and increased production of the Emara motorcycle.
As it adds riders and energy subscribers, the company also intends to broaden its product lineup, increase its charging footprint, and expand geographically.
