# Roam

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/roam

- Industry: Automobiles, Other Vehicles & Parts
- Headquarters: Nairobi, Kenya
- Website: www.roam-electric.com
- Total disclosed funding: $15M
- Latest round: Series A (Feb 14, 2024)
- Investors on record: 8

## About

Founded in 2017 and based in Nairobi, Kenya, Roam formerly Opibus, operates as a developer and manufacturer of electric motorcycles and vehicles and charging infrastructure. The company is rooted in Sweden and has its design center in Kenya, which over the years has emerged in the electric mobility sector in Africa. With a focus on sustainable transport solutions, Roam has made notable strides in the African market, particularly in regions where motorcycles and buses are prevalent modes of transportation. In February 2024, Roam raised USD 24 million in series A funding led by new investor Equator, with participation from other new investors TES Ventures, Renew Capital, The World We Want, and One Small Planet. Returning investor At One Ventures also participated in the round.

Roam's product lineup is diverse, catering to different segments of the transportation industry. The Roam Air, an electric motorcycle designed for African conditions, stands out for providing practical and efficient solutions. In addition to motorcycles, Roam has ventured into the electric bus market with the Roam AirBus, offering a clean and efficient mode of public transportation.

Roam's revenue stream primarily stems from the sale of its electric vehicles, including motorcycles and buses. By tapping into the growing demand for eco-friendly transportation solutions, the company has been able to establish a solid market presence and generate revenue through product sales and associated services.

The company will use the funding in 2024 to invest in research and tooling and boost its production capacity.

## Funding rounds

- Series A, Feb 14, 2024, $10M — The World We Want Foundation, At One Ventures, Renew Capital, One Small Planet, Equator, TES Ventures
- Seed, Nov 2, 2021, $5M — Factore Ventures, At One Ventures, Ambo Ventures

## Investors

- Factore Ventures (https://capitalatlas.ai/funds/factore-ventures) — Seed
- At One Ventures (https://capitalatlas.ai/funds/at-one-ventures) — Seed, Series A
- Ambo Ventures (https://capitalatlas.ai/funds/ambo-ventures) — Seed
- The World We Want Foundation — Series A
- Renew Capital (https://capitalatlas.ai/funds/renew-capital) — Series A
- One Small Planet — Series A
- Equator (https://capitalatlas.ai/funds/equator) — Series A
- TES Ventures — Series A