Arc Ride, a Kenyan electric mobility startup, has secured $33.3 million in equity and debt funding as it expands into South Africa.
The round was led by Norrsken22 and Novastar Ventures, with IFC, British International Investment (BII) and Proparco joining as co-investors. Existing investors Musashi Seimitsu, the Japanese Tier-1 automotive supplier, and Talanton, the African impact investor, also committed further capital. The debt portion came from British International Investment (BII)’s Kinetic programme and Mirova.
Arc Ride was founded in Kenya in 2019 by British entrepreneur Joseph Hurst-Croft and operates a battery-as-a-service (BaaS) model for two- and three-wheeler transport.
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The model removes the need for riders to own batteries outright, cutting upfront costs while enabling swaps through a network of smart battery-swap stations. Its clientele includes Yadea, one of the world’s largest EV manufacturers.
The new funding will support Arc Ride’s continued rollout across Kenya, including Nairobi and the Western region, and fund expansion into Ghana, South Africa, Tanzania and Uganda.
It has now launched in South Africa, following a pilot in Cape Town and a vehicle rollout underway in Gauteng province. The company will also expand its battery-swapping network and add 5,000 motorcycles to its fleet.
Hurst-Croft, founder of Arc Ride, said: “Our ambition is to make electric mobility the default choice for riders across Africa by making it more accessible, more affordable and more practical than petrol alternatives. This funding allows us to scale the infrastructure required to support that transition and to do so at pace.”
Ngetha Waithaka, partner at Norrsken22, said the unit economics are compelling, and the product is winning with riders. He added that Arc Ride’s technology, data and network effects give it the potential to become the open standard the entire ecosystem plugs into.
Last updated: September 8, 2026
