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Nigeria’s MAX Secures $24M to Boost Electric Mobility and Clean Energy Infrastructure
Nigeria’s MAX secures $24m to boost electric mobility and clean energy as it doubles down on its mission to transform transport across Africa. The Nigerian startup, MAX, known as Africa’s first integrated electric vehicle and battery subscription platform, has raised US$24 million to speed up the continent’s move toward clean, affordable, and inclusive mobility.
MAX secures $24m to boost electric mobility and clean energy at a time when many African cities are struggling with high transport costs, pollution, and unreliable infrastructure. The company offers an all-in-one solution that doesn’t just stop at electric vehicles. MAX provides electric motorcycles and other vehicles, battery-swapping stations, financing options, and mobility technology, making it easier for drivers and businesses to switch from fuel-powered to electric.
Today, MAX operates in Nigeria, Ghana, and Cameroon. From these markets, it is building the backbone of what it hopes will be an inclusive, tech-driven, zero-emission transport network across Africa. By combining electric vehicles with battery-swapping and digital tools, the company aims to make cleaner mobility both practical and affordable for everyday users.
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The US$24 million funding round is a mix of equity and debt. On the equity side, investors include Equitane DMCC, Novastar, Endeavor Catalyst, and other global backers who believe in the company’s model and long-term potential. On the debt side, MAX has secured asset-backed and climate-focused financing from the Energy Entrepreneurs Growth Fund (EEGF), which is managed by Triple Jump, along with additional development finance partners. This blend of capital reflects growing investor confidence that electric mobility can work at scale in Africa.
With this fresh capital, MAX intends to boost electric mobility and clean energy solutions across West and Central Africa. The company plans to use the funds to rapidly grow its electric vehicle fleet, putting more EVs on the road for both individual riders and commercial operators. It will also expand its solar-powered battery-swapping network, so drivers can quickly exchange depleted batteries for charged ones instead of waiting to recharge. This model helps solve one of the biggest challenges of EV adoption: access to reliable, affordable power.
Beyond vehicles and batteries, MAX will invest in strengthening its proprietary Internet of Things (IoT) systems and fleet management technology. These tools help track vehicles in real time, manage maintenance, monitor performance, and improve safety and efficiency for both drivers and fleet owners. The funding will further support the company’s geographic expansion, allowing MAX to deepen its presence in existing markets and enter new ones across West and Central Africa. In doing so, MAX plans to boost electric mobility in a way that is tied closely to technology, clean energy, and data-driven operations.
Profitability in Nigeria proves that electric mobility in Africa is not a future concept. It is viable, scalable, and investable today,” said Adetayo Bamiduro, co-founder and CEO of MAX. “This capital allows us to scale faster, deepen clean energy infrastructure, and build a truly pan-African mobility platform that expands access, lowers costs, and delivers durable impact.”
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His comments underline how MAX secures $24m to boost electric mobility and clean energy at a moment when many are still questioning whether EVs can truly work in African conditions. MAX’s ability to reach profitability in Nigeria suggests that the model can be replicated across other countries on the continent, especially when supported by the right infrastructure and financing tools.
With this funding, the company is positioning itself as a key player in Africa’s shift away from fossil fuels. By combining electric vehicles, battery-swapping, clean energy, and smart technology, MAX is working to make transport cheaper, cleaner, and more inclusive for millions of people. The new funding gives it the resources to move faster, reach more cities, and prove that sustainable mobility is not just a global buzzword, but a real and growing reality in Africa.
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