The faces behind Africa’s best-funded startups

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As we revealed yesterday, Africa’s EV sector raised $119.5 million in funding in October, the highest so far this year. But who are the faces behind the four startups that raised the money? To recap, Spiro raised $100 million, while South African company maxwell+spark raised $15 million. Kenya’s Enzi Mobility got $3.5 million, while Uganda’s Gogo received $1 million. 

• Investors are concentrating capital in large, proven operators like Spiro. Future funding could favor companies with strong assets, customer bases, and data-backed performance, likely driving consolidation across the sector. 

• To raise money in the current market conditions, African EV startup founders need to build investor confidence by proving strong unit economics and scalability, showing clear pathways to profitability. 

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