Launch Africa Ventures is a frontier Pan-African fund addressing the significant funding gap in the Seed to Series A bridge funding investment landscape in Africa.
Wahu Mobility, a Ghana-based electric bike startup known for its signature Wahu eBike, has received a major investment from Launch Africa Ventures. With this investment, the Ghanaian company is now one step closer to achieving its goal of strengthening its position in the African electric vehicle market.
Although the number of gasoline-powered vehicles in Africa far exceeds that of electric vehicles, the electric vehicle market is growing day by day. In some countries on the continent, efforts are being made to encourage this transition.
Projections suggest that by 2027, the electric vehicle market will have grown from $11.94 billion to $21.39 billion. This rise and the increasing demand will also pave the way for Wahu Mobility’s growth. The investment it has already received places the company in a leading position in the African electric vehicle space.
If the company can leverage these funds and turn this growth into a sustainable process, it is well-positioned to become one of the leading firms in this market. The investment is seen as not only significant for the company itself but also crucial for the overall economic and technological development of Africa, making it a matter of great importance for the entire continent.