Dodai, a leading electric vehicle (EV) company based in Ethiopia's capital, recently secured $4 million in Series A funding. This investment, one of the largest ever for an Ethiopian startup, will fuel the company's growth and expansion plans.
The funding round attracted prominent investors, including Nissay Capital, Musashi Seimitsu, and Inclusion Japan. The capital injection will primarily import electric motorcycle parts and lithium batteries, crucial components for Dodai's core business. The remaining funds will be allocated towards operational expenses and developing a battery-swapping system targeted for launch by the end of 2024.
Dodai's focus on electric motorcycles aligns with Ethiopia's growing emphasis on clean energy initiatives. The Ethiopian government recently announced a bold move to ban fuel-powered vehicles in the country, further solidifying the potential of EVs in the region.
Local Assembly, Global Ambition
Founded in 2023 by Yuma Sasaki, Dodai assembles and sells electric motorcycles within Ethiopia. The company's e-bikes boast an impressive range of 150 kilometers per charge, with lithium batteries lasting up to eight years. Additionally, Dodai offers short-term electric scooter rentals, catering to diverse customer needs.
Strategic Partnership Fuels Innovation
The investment by Musashi Seimitsu, a Japanese automotive parts supplier, signifies a strategic partnership for both companies. Musashi Seimitsu views this collaboration as an opportunity to address regional mobility challenges, expand its e-mobility business in Africa, and develop new EV solutions.
The partnership extends beyond funding, with plans for the co-development of electric scooters utilizing Musashi's e-Axle technology, launching three-wheeled electric vehicles, and collaborating on data sharing.
Ethiopia's Green Shift
Ethiopia's commitment to green transportation is evident in its recent policy changes. The government's decision to allow only EVs into the country and exemptions for electric cars on import taxes positions Ethiopia as a frontrunner in Africa's sustainable transportation revolution.
Dodai's funding and the government's green push position the company for significant growth, shaping the future of e-mobility in Ethiopia and potentially across Africa.
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