Ugandan electric mobility startup Gogo Electric has secured $1mn in funding from the EU-funded Electrification Financing Initiative (ElectriFI), the company announced this week, marking a significant boost for the country’s rapidly expanding two- and three-wheel e-mobility sector.

ElectriFI, an EU impact investment facility managed by EDFI Management Company, provides risk capital to early-stage clean-energy ventures across Africa, Asia and Latin America. Its support for Gogo Electric aligns with the EU’s wider efforts to advance low-carbon transport solutions and expand access to affordable clean energy in emerging markets.

Gogo Electric operates a network of electric motorcycles and battery-swap stations targeting Uganda’s large boda-boda rider base — a critical segment of the urban transport economy. Uganda has more than 1mn boda-boda riders, according to official data, making the country a high-potential market for electric alternatives that help riders cut fuel costs and reduce downtime.

The company said the fresh capital will be used to expand swap-station coverage, strengthen local assembly capacity and accelerate adoption among commercial riders. Battery-swapping has become a favoured model in East Africa’s e-mobility industry, reducing upfront costs and enabling riders to operate electric motorcycles without needing to purchase expensive batteries.

Uganda’s e-mobility sector is developing alongside regional leaders Kenya and Rwanda, where large-scale EV motorcycle fleets and swap networks are already in operation. Kampala is now seeing increased investment momentum as startups seek to scale commercially viable platforms backed by favourable policy measures. Uganda’s government has introduced incentives for EV components and assembly under its renewable-energy and climate-commitment framework.

ElectriFI said the investment aims to support early-stage growth in a market where electrification offers both economic and environmental gains, particularly for low-income riders who form the backbone of the transport system.