What is Ampersand?
Founded in 2016, Ampersand operates as Africa’s premier electric transport energy provider. The company specializes in the deployment of commercial e-motorcycle fleets supported by a robust, high-performance battery swapping infrastructure. By integrating advanced technology with a focus on operational efficiency, Ampersand addresses the critical need for affordable, low-carbon public transport solutions. Its business model not only facilitates the transition to electric mobility but also serves as a catalyst for green job creation and economic development in emerging markets. The company is widely recognized for its long-term commitment to performance and its ability to maintain a reliable energy supply in challenging environments.
How much funding has Ampersand raised?
Ampersand has raised a total of $32M across 4 funding rounds:
Other Financing Round
$3.5M
Other Financing Round
$19.5M
Series A
$2M
Other Financing Round
$7M
Other Financing Round (2021): $3.5M with participation from The Ecosystem Integrity Fund
Other Financing Round (2023): $19.5M led by Acumen, Ecosystem Integrity Fund, and Hard Edged Hope Fund
Series A (2024): $2M supported by Beyond Capital Ventures, Everstrong Capital, and AHL Venture Partners
Other Financing Round (2025): $7M featuring AHL Venture Partners, British International Investment, and Acumen
Key Investors in Ampersand
AHL Venture Partners
AHL Venture Partners is an investment advisor focused on driving inclusive economic growth in Africa by mobilizing private capital into scalable and impactful businesses. The firm specializes in Climate Action and Sustainable Food & Agriculture sectors.
British International Investment
British International Investment is the development finance institution of the UK government, dedicated to fostering sustainable economic growth in developing economies.
Acumen
Acumen is a specialized firm that conducts policy research and provides strategic support for healthcare and social policy programs, often backing ventures with significant social impact.
What's next for Ampersand?
With this latest capital injection, Ampersand is well-positioned to accelerate its expansion strategy, focusing on deepening its footprint in existing markets and scaling its battery swapping network to meet rising demand. The company is expected to prioritize technological enhancements to its fleet management systems and further optimize its energy distribution infrastructure. As the demand for sustainable, cost-effective transport solutions continues to surge across Africa, Ampersand's strategic focus will likely remain on maintaining its competitive edge through innovation and operational excellence. This phase of growth will be critical in establishing the company as the definitive standard for electric mobility in the region, potentially setting the stage for future market leadership in the broader sustainable infrastructure landscape.
See full Ampersand company page
