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Zeno Raises $9.5 Million for its First Electric Motorbikes in 2025
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Zeno raises $9.5 million in an oversubscribed seed round, positioning itself to transform Africa’s energy and transport landscape.
The funding was led by Lower Carbon Capital and Toyota Ventures, with participation from 4DX Ventures, Active Impact, Advantedge, MCJ, and RedBlue.
Zeno Raises $9.5 Million For Electric Motorbikes 2025
The funding aims to accelerate the company’s ambitious plans to introduce swappable battery technology across East Africa.
The stealth-mode startup intends to accelerate its plans to introduce swappable battery technology across East Africa with the introduction of its first electric motorbikes in early 2025.
The core innovation of Zeno is its swappable lithium-iron-phosphate (LFP) battery. Drivers can swap out depleted batteries at strategically located stations rather than waiting for them to recharge, similar to what Taiwanese startup Gogoro has pioneered in Southeast Asia.
These batteries will initially power Zeno’s electric motorbikes, but Spencer and his team have grander ambitions.
The startup’s vision extends beyond electric vehicles. The swappable batteries could play a broader role in powering homes, especially in regions where power outages are frequent, or grid access is non-existent.
Zeno Electric Motorbike Funding Reflects Africa’s Dedication To Providing Green Energy Solutions
Zeno raising a $9.5 million seed round reflects the growing confidence in Africa’s transition to green energy solutions. Venture capital interest in the region’s electric mobility market has surged in recent years, with firms betting on the scalability of sustainable technologies.
Lower Carbon Capital, Toyota Ventures, and other backers see Zeno as a unique solution tailored to Africa’s needs. By targeting motorbike taxis — vital to East Africa’s urban transport infrastructure — the startup aims to slash fuel costs for drivers and contribute to cleaner cities.
Zeno’s swappable battery ecosystem could also offer new solutions for powering homes and small businesses. By embedding internet connectivity in each system, Zeno will monitor battery performance, anticipate demand, and offer flexible payment models that cater to the varying financial capacities of its customers.
Also Read: Bolt and M-KOPA Launch 5,000 Electric Motorcycles in Kenya to Help Drivers Maximize Earnings
About The Company
Founded in 2022 by Michael Spencer, Zeno is setting its sights on the region’s ubiquitous motorbike taxis, locally known as bodabodas, which are a mainstay of East African cities like Nairobi and Kampala.
These taxis offer affordable transport solutions, yet drivers face steep operational costs. Fuel, for instance, accounts for nearly half of their income — a far cry from the mere 2–3% that American commuters spend on gasoline. Spencer believes this is where Zeno’s innovation can step in to make a difference.
Spencer highlighted how the convergence of swappable battery technology and electric vehicles can bring meaningful shifts to emerging markets.
He said, “We’re seeing a market ripe for change. The Tesla master plan has more legs and more room to run with lower hurdles in emerging markets.”
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