Ethiopia-based electric mobility startup Dodai has secured $13 million in a Series A funding round to accelerate the expansion of its battery-swapping network and electric vehicle (EV) operations across the country.
The funding round consists of $8 million in equity and $5 million in debt, with backing from a mix of international investors, including Value Chain Innovation Fund, UTokyo Innovation Platform, and British International Investment (BII). This latest investment highlights growing global interest in Africa’s emerging clean mobility sector, particularly in markets like Ethiopia, where policy support is driving rapid EV adoption.
Dodai focuses primarily on electric two-wheelers, especially motorbikes used by delivery riders and small businesses. Its core innovation lies in its battery-swapping model, which allows riders to exchange depleted batteries for fully charged ones in minutes instead of waiting for long charging times. This approach addresses one of the biggest barriers to EV adoption in developing markets—limited charging infrastructure and unreliable electricity access.
The company has already deployed over 2,000 electric bikes and is building a network of swapping stations across Addis Ababa, with plans to expand into other cities and eventually into neighboring countries. By reducing upfront costs and downtime for riders, the model is particularly attractive to commercial users who rely on motorcycles for daily income.
Ethiopia’s aggressive push toward electric mobility has also created a favorable environment for startups like Dodai. The government has implemented policies banning the import of internal combustion engine vehicles, significantly accelerating the transition to cleaner alternatives. As a result, the country is quickly becoming one of Africa’s most promising EV markets.
With this new funding, Dodai aims to scale its infrastructure, increase vehicle deployment, and strengthen its position as a leader in Africa’s e-mobility ecosystem. The investment not only supports the company’s growth but also signals confidence in battery-swapping technology as a practical and scalable solution for sustainable transportation across the continent.
Leave a Reply