Proparco backs ARC Ride with $1.5M investment to scale pan-African e-mobility

French development finance institution Proparco has injected $1.5 million into Kenya-based electric mobility company ARC Ride . The investment forms part of ARC Ride’s broader $33.3 million capital raise designed to scale two- and three-wheeler electric transport infrastructure across Sub-Saharan Africa. Funding Structure & Syndicate The $33.3 million capital package combines both equity and debt financing: Series A Equity ($23 Million): Co-led by Novastar Ventures and Norrsken22 , with particip