Uganda’s GOGO Electric Raises $1 Million to Expand its Battery-swap Network

Uganda’s GOGO Electric has received $1 million to expand its battery-swap infrastructure, giving electric riders better access to clean, reliable energy and accelerating Uganda’s transition to e-mobility.

The $1 million is a re-investing $1 million from EDFI ElectriFI, the EU-funded Electrification Financing Initiative. The investment announcement took place in Uganda during the EU Green Diplomacy Week at the GOGO Electric Factory, in Kampala, Uganda.

According to Parth Shah (GOGO CFO), “This additional investment from EDFI MC is proof that GOGO Electric is on the right path to electrify Uganda’s public transport. It shall boost our battery production capacity, allowing us to deploy more electric motorcycles on the Ugandan roads.”

This brings the total EDFI investment in GOGO Electric to $2.6 million, the first investment of $1.6 million was made last year to support transformative solutions that address climate challenges and empower economic growth in developing nations.

Founded in 2017, GOGO Electric operates across the entire e-mobility value chain, encompassing local battery and electric motorcycle assembly and a battery swapping network.

GOGO Electric is building a semi-automated Lithium-Ion battery factory with an annual capacity of 60,000 batteries to serve Uganda’s motorcycle taxis (boda bodas). The firm’s battery swapping network is expected to revolutionize Uganda’s transportation sector  and make electric motorcycles a mainstream.

Jakob Hornbach, founder and CEO of GOGO Electric says the firm’s journey began with the ambition to make a tangible impact on the environment and the economy, and began by assembling bikes powered by advanced lithium-ion batteries. GOGO lithium-ion powered bikes and battery swapping network are designed to empower individuals and communities, making renewable energy accessible, affordable, and a catalyst for economic growth.