Stima Mobility, a Kenyan startup that provides green tech solutions for the moto-taxi sector, has secured €100,000 in investment from DEG Impulse. DEG Impulse is a subsidiary of the German Development Bank DEG with funds from the German Federal Ministry for Economic Cooperation and Development (BMZ).
The new funding will be used to demonstrate the economic viability of battery swapping systems at the scale of 100 motorbikes and 11 battery swap stations in Nairobi. Stima Mobility will also use the funding to further develop its swapping platform licensing.
Stima Mobility sells battery-swapping services to individual electrical boda boda riders. The company’s battery-swapping stations are located in strategic locations throughout Nairobi, making it easy for riders to swap their batteries quickly and easily. This helps riders to reduce their operating costs and increase their earnings.
The investment from DEG Impulse is a major vote of confidence in Stima Mobility’s business model. It also shows that there is growing interest in sustainable transportation solutions in Africa.
Stima Mobility’s Impact
Stima Mobility is making a positive impact on the environment and the lives of boda boda riders in Kenya. By providing battery-swapping services, Stima Mobility is helping to reduce air pollution and noise pollution in Nairobi. The company is also helping to improve the working conditions of boda boda riders, who can now save time and money by not having to wait for their batteries to recharge.
The develoPPP Ventures Programme
The develoPPP Ventures programme is a joint initiative of DEG and the German Federal Ministry for Economic Cooperation and Development (BMZ). The programme supports the growth phase of innovative startups that have the potential to generate a measurable, positive social or environmental impact alongside financial returns.
The develoPPP Ventures programme has invested in over 25 startups in Kenya and Tanzania since its inception in 2015. These startups are working on a range of innovative solutions, including renewable energy, sustainable agriculture, and financial inclusion.
The Future of Sustainable Transportation in Africa
The investment in Stima Mobility is a sign of the growing interest in sustainable transportation solutions in Africa. The continent is home to some of the world’s fastest-growing cities, and there is a need for more sustainable ways to move people and goods.
Stima Mobility’s battery-swapping platform is a scalable and sustainable solution that can help to reduce air pollution and noise pollution in African cities. The company’s business model is also replicable in other African countries, which means that it has the potential to make a significant impact on the continent’s transportation sector.
Overall, the investment in Stima Mobility is a positive development for the future of sustainable transportation in Africa. It shows that there is growing interest in these types of solutions, and it provides a blueprint for other startups that are looking to make a positive impact on the continent.