Ghana's Kofa Gets $8.1m to Scale Battery Swapping Network in Africa

2 May 2025
Daba Finance (Abidjan)

TLDR

  • Ghanaian energy startup Kofa has raised $8.1 million in a pre-Series A round to expand its AI-powered battery-swapping network across urban Africa
  • Kofa operates a swappable battery system designed for motorcycles, small businesses, and households
  • Kofa will use the funds to scale into three cities across West and East Africa and enhance its AI-based battery management system

Ghanaian energy startup Kofa has raised $8.1 million in a pre-Series A round to expand its AI-powered battery-swapping network across urban Africa. The round includes $3.25 million in equity, $4.315 million in debt, and $590,000 in grants. Equity investment was co-led by E3 Capital and Injaro Investment Advisors, while Shell Foundation and the UK's Transforming Energy Access platform supported with catalytic debt and grants.

Launched in 2022, Kofa operates a swappable battery system designed for motorcycles, small businesses, and households. The system delivers reliable, clean energy in under two minutes per swap. The company currently facilitates over 200 swaps daily with a 99% charge rate.

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Kofa will use the funds to scale into three cities across West and East Africa and enhance its AI-based battery management system, which tracks usage, predicts demand, and optimizes energy deployment.

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Key Takeaways

Kofa's fundraising reflects rising investor interest in Africa's clean energy and electric mobility sectors. With urban congestion and fuel costs driving demand for electric motorcycles and decentralized power, battery-swapping solutions are emerging as scalable, cost-effective alternatives. By integrating AI and IoT, Kofa aims to solve major pain points: battery reliability, charging time, and infrastructure cost. Its platform increases uptime for small businesses and delivery operators, many of whom rely on two-wheel transport. The company's investor mix--including institutional funds, development finance, and battery-sector angels--positions Kofa to benefit from the convergence of clean tech, fintech, and urban logistics. Local assembly and international hardware partnerships will be central to scaling infrastructure sustainably. As countries like Ghana and Kenya prioritize electrification and carbon reduction, Kofa's approach could become a blueprint for distributed energy in high-density African cities, where access, affordability, and speed remain non-negotiable.

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