Africa: Solarbox Africa Secures $1m Pre-Seed for Electric Mobility Expansion

25 November 2024
Daba Finance (Abidjan)

TLDR

  • Solarbox Africa secures $1 million Pre-Seed funding led by key investors Digital Energy Facility, Launch Africa, JLL Foundation, and Teranga Capital for expanding e-mobility solutions.
  • The company, incubated by Wuri Ventures, specializes in designing and assembling custom light electric vehicles with solar charging, financing, and fleet management services.
  • Solarbox Africa's innovative solutions aim to reduce Senegal's $2 billion annual petroleum imports, offering substantial cost savings and environmental benefits with up to 60% lower driving costs and 10 tons of carbon emissions reduction per vehicle yearly.

Senegal's e-mobility solutions provider Solarbox Africa announced the closure of its $1 million Pre-Seed funding round led by early-stage investors Digital Energy Facility (a collaboration of Agence Française de Développement, IetP, and Gaia Impact Fund), Launch Africa, JLL Foundation, and Teranga Capital.

The funds will enable Solarbox to meet growing demand in Senegal and neighboring regions. Incubated by Wuri Ventures, the company designs and assembles custom light electric vehicles (2 and 3-wheelers) for corporates, offering solar charging, financing, and fleet management solutions. It has partnered with major players such as Orange Energies, FedEx, and Paps Logistics, showcasing its ability to drive clean mobility adoption across industries.

Solarbox's solutions address Senegal's $2 billion annual petroleum imports while leveraging the nation's solar potential--among the world's highest at 6.32 kWh/m². The vehicles offer significant cost savings, cutting driving costs by up to 60% compared to gasoline vehicles and reducing carbon emissions by 10 tons per vehicle annually.

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Key Takeaways

Solarbox Africa's innovative approach positions it as a leader in Senegal's transition to clean mobility, leveraging abundant solar resources to reduce fuel dependency and emissions. The successful funding round reflects investor confidence in eMobility's potential to address Africa's $40 billion annual transportation energy imports. With tailored solutions for local realities and strong corporate partnerships, Solarbox is poised for rapid growth in the region's clean energy transition.

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