ARC Ride Raises $33.3 Million to Expand Battery-Swapping Network

Kenyan electric mobility startup ARC Ride has closed a $33.3 million funding round comprising asset-backed debt and equity. The investment will fuel the company’s expansion of its battery-swapping network and electric motorcycle fleet across Africa.

The round was led by Novastar Ventures and Norrsken22, with significant participation from international finance institutions including the International Finance Corporation (IFC) and British International Investment (BII). Existing investors like Musashi Seimitsu and Talanton also joined in this latest funding push.

Strategic Expansion Plans

With this new capital, ARC Ride aims to:

  • Expand operations within Kenya while adding 5,000 electric motorcycles to its fleet
  • Strengthen battery infrastructure with advanced technologies like automated swapping and smart charging
  • Integrate renewable energy sources into its power solutions
  • Enter new markets including Ghana, South Africa, Tanzania, and Uganda

“This funding validates our vision of building a comprehensive mobility network across Africa,” said Jo Hurst Croft, founder of ARC Ride. “Our goal is to make electric vehicles the preferred choice for riders by addressing key concerns around accessibility, affordability, and practicality.”

Key Differentiators

ARC Ride stands out through:

  • Its open-architecture battery system that supports multiple motorcycle brands
  • A technology platform tracking vehicle usage and battery swaps in real time
  • Swap stations designed to operate on solar power
  • Local assembly of vehicles at its Nairobi plant, ensuring adaptability to African conditions

Competitive Landscape & Future Outlook

The company operates in a rapidly evolving market with competitors like Spiro, Ampersand, Roam, and SUN Mobility. However, ARC Ride’s interoperable battery network positions it uniquely to support widespread adoption of electric mobility across various brands and models.

As the African EV sector continues its rapid growth—with registered EVs in Kenya increasing nearly 30-fold between 2022 and 2025—ARC Ride is poised to play a significant role in shaping the continent’s transportation future.