Zeno, an electric-mobility and distributed energy services company, says it has raised $25 million to expand its electric vehicle and charging operations across East Africa. The announcement, dated March 4, 2026 from San Francisco, described the financing as a mix of Series A equity and debt intended to scale what it calls an “electric vehicle ecosystem.” The release was issued with an embargo set to lift at 11:59 PM on March 4 in Pacific time.
Funding round structure
According to the company, the equity portion of the Series A was led by climate-tech investor Congruent Ventures and included participation from more than a dozen new and existing backers. Zeno also secured debt facilities from Trifecta Capital and Camber Road, adding non-dilutive capital alongside the equity raise. The company did not disclose valuation or the split between equity and debt in the combined $25 million figure.
Charging network and technology
Zeno currently operates in four cities in East Africa and reports a charging network spanning more than 150 chargepoint locations. It says it was the first company to introduce interoperable, multi-modal charging for two- and three-wheel electric vehicles, a segment where both range and downtime strongly shape adoption. The approach combines small-footprint battery swap stations with public plug-in fast chargers and home charging, aiming to offer more flexibility than swap-only models.
Products and early scale
The company traces the build-out to a $9½ million seed round led by Lowercarbon Capital, which it says funded development across vehicles, batteries, charging hardware, and software. Zeno reports completing “patent-protected” work on three charging products, a battery platform, and its flagship Emara sport-utility motorcycle, supported by a cloud-based operating system. It also says it has scaled commercial operations to nearly 1,000 motorbike and energy subscription customers across its four-city footprint.
Economics and customer claims
Zeno argues that its progress contrasts with a sector where fundraising totals often eclipse metrics like service quality and unit economics, though those claims are difficult to compare across markets and business models. Chief executive and founder Michael Spencer said the company prioritized “the right product first” and described the goal as being “the best mover, not the first mover.” Congruent Ventures partner Gray Robinson said Zeno’s electric offering can meet commercial performance needs while delivering “50% lower operating costs” than internal-combustion alternatives, a figure presented as a company-side estimate.
Expansion plans and broader vision
The new capital is slated to support deeper network build-out and increased production of the Emara motorcycle, which Zeno says is needed to address a waitlist of more than 25,000 retail and fleet customers. Zeno said it plans to expand geographically, grow its charging footprint, and extend its product lineup as it adds riders and energy subscribers. Beyond mobility, the company said it wants its batteries to power homes and businesses, positioning its infrastructure as a foundation for distributed energy services in emerging markets.
Founded in 2022, Zeno was started by Spencer, a former Tesla executive, alongside a team with backgrounds at Tesla, Apple, Ola, and Ather, and it operates from San Francisco, Nairobi, and Bangalore. Congruent Ventures describes itself as an early-stage climate and sustainability investor focused on mobility, the energy transition, food and agriculture, and sustainable production and consumption, with more than $1 billion in assets under management and 59 portfolio companies.