Ethiopian electric mobility startup Dodai has closed a $13 million Series A round, split between $8 million in equity and $5 million in debt, backed by British International Investment and a consortium of Japanese investors including Value Chain Innovation Fund, UTokyo Innovation Platform, Nagase & Co., Persistent ACV Fund, For Seasons, CBC Co., and Inclusion Japan. The company has deployed more than 2,000 electric motorbikes over three years and employs approximately 100 staff, 97% of whom are Ethiopian, and is now preparing to scale its battery swapping infrastructure. The round was announced this week.
Why it matters: The investment highlights growing international confidence in African e-mobility infrastructure beyond traditional markets like Kenya and South Africa, with Ethiopia emerging as a viable deployment zone for battery swapping networks. For charging and swapping operators, the deal demonstrates that development finance and corporate venture capital are willing to back alternative refuelling models in frontier markets with localised assembly and workforce strategies.