# Jet Motor Company

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/jet-motor-company

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Lagos, Nigeria
- Website: www.jetmotorcompany.com
- Total disclosed funding: $9M
- Latest round: Series A (Mar 12, 2020)
- Investors on record: 2

## About

Based in Nigeria, Jet Motor Company specializes in manufacturing advanced vehicles, particularly focusing on the Jet Mover, designed to tackle the unique challenges of the African terrain with eco-friendly solutions.Jet Motor Company, established in 2017 in Lagos, Nigeria, focuses on creating advanced vehicles for diverse landscapes. The company raised USD 9.000 mn in its Series A funding round on March 12, 2020, led by Africa Development Capital, with participation from Greatman Legend. This funding is directed towards enhancing their research and development efforts, particularly in electric vehicle technology.Jet Motors specializes in manufacturing advanced vehicles, particularly the Jet Mover, tailored to navigate the varied African terrain. The company emphasizes eco-friendly solutions with the use of Compressed Natural Gas (CNG) to reduce emissions. Their customer base spans individuals, businesses, and government entities across Southern Africa and West Africa, aiming to enhance travel experiences while addressing environmental concerns within the automotive sector.Jet Motors generates revenue through direct sales of their vehicles, especially the Jet Mover and CNG vehicles, targeting both individual and corporate clients. Their business model includes partnerships with dealerships and fleet operators, alongside direct-to-consumer sales for custom orders. The pricing strategies reflect the premium nature of their products, catering to customers who prioritize luxury and ecological responsibility, while also exploring partnerships for sustainable transport solutions.Following the Series A funding round in March 2020, Jet Motor Company plans to enhance its research and development capabilities, particularly in electric vehicle technology. The company aims to launch new electric vehicle designs in the coming years and expand its market presence within regions of West Africa and Southern Africa. The recent funding will support these initiatives, driving innovation and sustainability within their product offerings.

## Funding rounds

- Series A, Mar 12, 2020, $9M — Africa Development Capital, Greatman Legend

## Investors

- Africa Development Capital (https://capitalatlas.ai/funds/africa-development-capital) — Series A
- Greatman Legend — Series A