Zembo nabs $3.4 million from Toyota, DOB Equity and InfraCo Africa to grow its motorcycle startup in Uganda
https://techcrunch.com/2021/11/12/zembo-nabs-3-4-million-from-toyota-dob-equity-and-infraco-africa-to-grow-its-motorcycle-startup-in-uganda/
Mobility 54 Investment SAS, a corporate venture capital subsidiary of Toyota Tsusho Corporation and CFAO group, DOB Equity and InfraCo Africa have invested $3.4 million (€3 million) in electric motorcycle startup Zembo to help it grow its business.
Zembo, a French startup with operations in Uganda was founded in 2018 and sells electric motorcycles through a lease-to-own program. It also operates a network of solar charging and battery swapping stations in the East African country.