By Segun Adeyanju
Kenyan electric mobility startup Zeno has raised $25 million in a Series A financing round to expand production of its electric motorcycles and grow its battery-swapping infrastructure across East Africa.
The funding package comprises $20.5 million in equity and $4.5 million in debt, marking a significant milestone for the company as it responds to rising demand for affordable electric transport solutions in the region.
Founded in 2022 by former Tesla executive Michael Spencer, Zeno manufactures the Emara electric motorbike and operates a tech-enabled battery charging and swapping network. The company said the new capital will be used to scale manufacturing capacity and expand its network of swapping stations beyond its current footprint in Kenya and Uganda.
The equity portion of the round was led by Congruent Ventures, with participation from Active Impact Investments and Lowercarbon Capital. Debt financing was provided by Camber Road and Trifecta Capital.
Zeno said it has already manufactured more than 800 units of its Emara bikes and established at least 150 charging and swapping points across four urban centres. The company currently produces between 70 and 80 motorcycles weekly but plans to significantly increase output using the new funding.
According to the firm, demand has surged among both individual riders and fleet operators, with more than 25,000 prospective customers on its waiting list.
Spencer noted that the Emara model is designed to be more affordable than petrol-powered alternatives, with ownership costs reportedly about 50% lower than comparable petrol motorcycles and over 25% cheaper than other electric options in its markets.
The Emara motorbike offers a range of about 100 kilometres per charge and can carry loads of up to 250 kilograms. Pricing starts at approximately $1,300 without a battery and around $2,000 with a battery included, with flexible subscription and pay-as-you-go battery-swapping options available.
The latest raise brings Zeno’s total funding to $34.5 million since inception, highlighting growing investor confidence in Africa’s electric mobility sector. The development also reflects increasing global interest in Kenya’s EV market, driven by urbanisation, rising fuel costs, and the push for cleaner transportation alternatives.
