“Can a vertically integrated EV energy platform — combining hardware, software, and embedded financing — make electric motorcycle transport cheaper and more profitable than petrol for East African riders at scale?”
Founded in 2016 as an EV energy tech company focused on East African motorcycle taxi (boda boda / moto taxi) riders, Ampersand built a vertically integrated system of purpose-built electric motorcycles, swappable battery packs, swap stations, and its proprietary AmperOps fleet-management AI. The business model embeds vehicle financing and leasing directly for riders — replacing petrol cost and upfront vehicle ownership with a pay-as-you-drive subscription — making clean mobility economically superior to petrol alternatives. By 2024, the company had scaled to 5,000+ e-motos and positioned itself as Africa's leading EV energy tech company.
Ampersand is founded in 2016 and headquartered in Kigali, Rwanda (also Nairobi, Kenya).
Ampersand has raised $43.3M in total.
Get a read on where your own stack stands against Ampersand and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.