Dodai Secures $13M Series A Funding to Accelerate eMobility in Ethiopia
On 28 April 2026, Dodai signed agreements with the British International Investment (BII) and other Venture Capital (VC) firms for a total of USD 13 million during a Series A financing round. BII approved USD 5 million in debt financing, while other VC, including Value Chain Innovation Fund, Nagasse, Persistent ACV Fund, For Seasons, IPC, CBC, and ICJ, provided USD 8 million in equity financing.
Dodai is an #eMobility startup that is seeking funding to scale operations. It assembles and deploys electric motorbikes and is also building the supporting battery-swapping network. Doda was officially launched three years ago in 2023, and has deployed more than 2,000 eBikes so far. Its employee count has now reached 100, of which 97 are Ethiopian.
For 2026, the company plans to scale up to 3,000 eBikes and to bring the number of swapping stations to 30 in Addis Ababa. By 2030, the objective is to reach 30,000 eBikes and 1,000 swapping stations. In addition, Dodai plans to expand in other countries such as the Democratic Republic of Congo, Tanzania, Ghana and Cote d’Ivoire.
The Africa Resilience Investment Accelerator (ARIA) supported the Dodai by providing advisory services regarding the market and on-the-ground support. ARIA is a collaborative initiative among three European Development Finance Institutions (#DFI), viz, BII, FMO and Proparco.
“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。”
BII CEO Leslie Massdorp
“This investment reflects growing confidence from international investors in our team’s ability to turn real-world challenges into opportunities to solve. 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 further.”
Dodai SVP Hilina Legesse
BII has committed to dedicate at least 40% of its financing to address #ClimateChange. In its new six-year plan from 2026 to 2031, BII is also allocating 25% of its funding to emerging and frontier markets, including the Least Developed Countries (LDC) identified by the UN.
Darren Welch, UK Ambassador in Addis Ababa, hailed Ethiopia as one of the most compelling frontier markets for the clean mobility transition, where a small capital can have a big impact with long-term value. He recalled that Ethiopia is hosting COP32 and that the UK is delighted to accompany Ethiopia on its green journey.