British International Investment (BII), the UK’s development finance institution and impact investor, has committed $5 million in debt financing to Ethiopian electric mobility company Dodai as part of its $13 million Series A funding round.

The investment will support Dodai’s expansion of electric motorbike fleets and battery-swapping infrastructure in Addis Ababa, as the company seeks to widen access to affordable urban transport and create new economic opportunities.

Dodai assembles electric motorbikes in Ethiopia and operates battery-swapping stations that allow riders to quickly exchange depleted batteries for charged ones. Since launching three years ago, the company has deployed more than 2,000 electric motorbikes and built a workforce of around 100 employees, most of them Ethiopian.

Leslie Maasdorp, Chief Executive of BII, said Ethiopia was becoming an important market for clean mobility investment.

“Ethiopia is emerging as one of Africa’s most compelling frontier markets for the clean mobility transition, where the right capital can unlock outsized impact and long-term value,” he said.

“BII’s investment will support Dodai to scale critical e-mobility and battery-swapping infrastructure and accelerate the development of a commercial market for electric motorbikes. By expanding access to affordable transport, Dodai is empowering entrepreneurs, creating jobs, and helping build a stronger, more competitive urban economy in Ethiopia.”

Dodai plans to use the funding to accelerate its presence in Addis Ababa, where it aims to reach 3,000 battery-swapping users over the next 12 months through a network of 30 stations.

Over the next three years, the company targets 30,000 users and 1,000 battery-swapping stations in the Ethiopian capital before expanding into Abidjan, Kinshasa, Accra and Dar es Salaam.

Hilina Legesse, Senior Vice President and Head of Corporate at Dodai Group Inc, said the funding signalled confidence in the company’s ability to scale.

“This investment reflects growing confidence from international investors in our team’s ability to turn real-world challenges into opportunities to solve,” she said.

“In just two years, we have deployed over 2,000 electric motorcycles, enabling more than 2,000 riders to earn a living. We will now accelerate and scale this impact even further.”

UK Ambassador to Ethiopia Darren Welch said the investment highlighted the UK’s development partnership with Ethiopia.

“I am delighted that the UK – through British International Investment – is supporting the acceleration of the rollout of electric motorbikes and battery swapping infrastructure here in Ethiopia,” he said.

He added that the investment would help create jobs, expand affordable transport options and support Ethiopia’s climate ambitions ahead of hosting COP32.