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Solarbox Africa, a Senegalese e-mobility and energy solutions startup, has raised a US$1 million pre-seed funding round to help it meet the increasing demand for its solar-powered electric vehicles (EVs) in Senegal and the wider West African region.
Launch Africa Ventures, JLL Foundation, Teranga Capital, and Digital Energy Facility, a partnership between Agence Française de Développement (AFD), IetP, and Gaia Impact Fund, led the funding round for the group of investors.
Founded by Tijan Watt in 2022 and backed by Wuri Ventures, Solarbox develops, builds, and distributes light electric vehicles, including two- and three-wheelers, for business customers.
The startup serves companies looking for more sustainable transportation options by incorporating fleet management software, solar charging systems, and flexible financing options into its products.
“Instead of importing millions of tonnes of petroleum annually, Senegal can harness its abundant sunlight. With transportation accounting for 40 percent of Africa’s energy needs and over US$40 billion in fuel imports annually, solar-powered mobility offers a transformative opportunity,” Watt said.
With the pre-seed funding, the company intends to increase production, expand its market share in Senegal, and look into prospects in nearby nations.
Read more on Tech Gist Africa:
Socium, a Senegalese HR-tech startup, has secured $5 million in seed funding
Maad, a Senegalese logistics platform, has raised $3.2 million in seed funding
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