Ghanaian energy tech startup Kofa has raised $8.1 million in a pre-Series A funding round to scale its battery-swapping infrastructure across East and West Africa. The financing, which comprises $3.25 million in equity, $4.315 million in debt, and $590,000 in grants, will support Kofa’s expansion in cities across Ghana and Kenya. The round was co-led by E3 Capital and Injaro Investment Advisors, with participation from the Shell Foundation, the UK Government’s Transforming Energy Access (TEA) platform, and European investors including Richard Thwaites of Penso Power.
Driving Innovation in Energy Access
Founded in 2021, Kofa provides a battery-swapping solution that addresses Africa’s energy access and mobility challenges by offering fast, affordable, and clean energy alternatives. Its service enables users—ranging from gig workers and motorcyclists to small business owners—to swap depleted batteries for fully charged ones in less than two minutes at an average cost of $1. By focusing exclusively on energy delivery and management rather than manufacturing, Kofa’s energy-as-a-service model positions the company as an essential clean energy infrastructure provider.
Strategic Model Sets Kofa Apart
Unlike competitors such as Ampersand in Rwanda or BasiGo in Kenya that adopt vertically integrated approaches, Kofa’s unbundled strategy bypasses vehicle manufacturing and retail. Instead, it partners with vehicle distributors and OEMs to focus solely on battery infrastructure, a model that allows for greater scalability and capital efficiency. This approach enables Kofa to become the foundational clean energy layer across multiple markets, drawing comparisons to legacy infrastructure players like Shell and MTN.
Technology-Driven Ecosystem for Energy Management
At the core of Kofa’s offering is an AI-powered battery management platform designed to handle millions of batteries efficiently. This system forecasts demand, monitors usage, and ensures reliable energy delivery for motorcycles, homes, and microenterprises. The platform not only optimizes operational performance but also supports clean energy adoption at scale by ensuring seamless battery availability across its growing network.
Expanding Infrastructure and Local Collaboration
The new funding will help Kofa deploy additional battery swap stations, increase battery inventory, and support local partnerships, including collaborations with manufacturers like TailG to create electric motorcycles tailored to African needs. Kofa currently conducts over 200 battery swaps daily, boasting a 99% success rate and maintaining swap times under two minutes. Its localized approach, which includes working closely with African manufacturers and communities, has been central to its rapid adoption and operational success.
Support from Global Impact Investors
The Shell Foundation and the TEA platform have been long-term supporters of Kofa, having backed its earlier initiatives including e-bike asset financing and research into the impact of multi-use battery technologies. Jonathan Berman, CEO of Shell Foundation, highlighted the importance of solutions that improve livelihoods and reduce emissions, noting Kofa’s scalable model as key to accelerating clean energy deployment. E3 Capital’s Andrew Darge echoed this sentiment, emphasizing Kofa’s unique ecosystem approach as a catalyst for Africa’s renewable energy transformation.
A Vision for a Sustainable Urban Africa
With Africa’s urban centers facing mounting energy demands and unreliable electricity infrastructure, solutions like Kofa’s are becoming critical to a cleaner, more resilient future. Clean energy startups across the continent raised over $180 million in Q1 2025 alone, reflecting surging investor interest in sustainable infrastructure. As Kofa prepares to expand further into new national markets, its innovative model offers a blueprint for how decentralized, tech-driven energy systems can power Africa’s next growth chapter.
Kofa’s latest funding milestone not only marks a major achievement for the company but also underscores the growing momentum behind Africa’s clean energy transition. By delivering efficient, affordable, and smart energy solutions, Kofa is enabling economic inclusion while supporting climate resilience. As the company scales its presence across the continent, it is poised to become a cornerstone in Africa’s journey toward sustainable, accessible energy for all.