The transition to EVs may have hit a roadblock in the US, but it’s not slowing down in East Africa, where several startups are vying for a piece of the growing electric motorcycle market.
Zeno is one of those companies, and this week announced a $25 million Series A to expand its app-controlled battery sharing network and produce more of Emara’s motorcycles.
About $20.5 million of the total was equity fundraising, Zeno co-founder and CEO Michael Spencer told TechCrunch. It was led by Congruent Ventures with the participation of Active Impact and Lowercarbon Ventures. The remaining $4.5 million is a loan facility from Camber Road and Trifecta Capital.
Zeno previously raised a $9.5 million round led by Lowercarbon Ventures and Toyota Ventures.
Since coming out of stealth a year and a half ago, Zeno has built more than 800 Emara motorcycles and set up more than 150 charging points in four cities in Kenya and Uganda.
Motorcycles are a cornerstone of transportation in the region, and Zeno is betting it can attract riders by offering 50 percent lower operating costs than combustion bikes. The company said more than 25,000 retail and fleet customers are waiting to get their hands on an Emara, and it produces about 70 to 80 bikes a week. The new round will be used to satisfy this requirement.
The Emara can drive about 100 kilometers (60 miles) on a single charge and carry up to 250 kilograms (550 pounds), Zeno says. The bike sells for about $1,300 without a battery and about $2,000 with one.
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The bike delivers a maximum power of 8 kilowatts, about the same as a 150cc internal combustion engine, but because all its torque is available from a standstill, it can climb steep hills fully loaded – a boon for bodaboda operators, who usually carry passengers and cargo on bikes.
Customers who waive the battery at purchase can sign up for a monthly or pay-as-you-go plan. They can charge the bikes at home or at one of the Zeno exchange stations.
Similar to Slate Auto in the US, Zeno sells a range of accessories and wraps so buyers can customize their rides.
To sweeten the deal, Zeno also plans to offer a battery docking station that homes and businesses can use to power lights and appliances. The dock is currently being prototyped, Spencer said, and about a dozen customers are testing the product.
If Zeno can commercialize the battery base, it could become entrenched in the region’s electrical infrastructure. Much of East Africa’s electricity grid is in poor shape, which has given an opening to companies to provide more modular energy products. Some are helping to develop mini and microgrids, while others like Zeno are betting that portable, modular batteries will find a permanent place.
When Spencer co-founded the company, he drew inspiration from his previous employer, Tesla, and its first master plan, which sought to develop EVs and clean energy at scale. The idea, he told me in 2024, “has more legs and more room to run with lower hurdles in emerging markets.”
Update 12 noon PT: Zeno operates in four cities in Kenya and Uganda, not four countries.
