Tunisian Startup Kaco Secures Funding to Drive Sustainable Mobility
Kaco, the Tunisian startup that is revolutionizing the electric scooter industry, has recently achieved a significant milestone through a new fundraising round. This successful round of investment will provide the necessary financial support to Kaco, allowing them to finalize the construction of a production facility with a capacity of manufacturing a thousand scooters per year. The investment comes from UGFS North Africa, an esteemed investment fund in the region, which has demonstrated its confidence in Kaco’s potential by providing financial backing. The exact amount of the investment remains undisclosed.
UGFS North Africa’s investment is intended to support Kaco in realizing its vision and accelerating the establishment of the production facility. The collaboration between the startup and the investment fund aims to facilitate the production of Kaco’s innovative electric scooter, called the Orca. This cutting-edge scooter boasts an integration rate surpassing 80% and an impressive range of 100 km. Furthermore, Kaco plans to manufacture the lithium batteries required for the scooters on-site, further enhancing their commitment to local production.
It is worth noting that this investment is not the first collaboration between Kaco and UGFS North Africa. Previously, the investment fund had already invested in Kaco to support research and development activities related to the design of the scooter and batteries. With this new round of fundraising, Kaco is now well-positioned to transition into large-scale production.
Why the Investor Invested
UGFS North Africa’s decision to invest in Kaco can be attributed to several compelling factors. The startup has showcased immense potential in the electric scooter market, both in Tunisia and beyond. By investing in Kaco, UGFS North Africa seeks to tap into this growth potential and secure a promising position within the rapidly expanding electric mobility sector.
Again, the collaboration between Kaco and UGFS North Africa aligns with the investment fund’s strategic goals. UGFS North Africa aims to support and contribute to the development of sustainable and environmentally friendly technologies. By investing in Kaco, a company committed to local production and offering an electric scooter with impressive features, UGFS North Africa actively supports the transition towards eco-conscious mobility solutions.
Kaco’s track record of successful research and development activities in the electric scooter domain has also instilled confidence in UGFS North Africa. The startup has demonstrated its ability to innovate and develop high-quality products, making it an attractive investment opportunity for the fund.
A Look at Kaco
Kaco was founded in by 2018 by Salmi Med Ali in Tunisia. Since its inception, the startup has been focused on revolutionizing the electric scooter industry by introducing innovative and sustainable mobility solutions. While their primary market is Tunisia, Kaco has aspirations to expand its presence beyond national borders and cater to a global audience.
The startup’s flagship product is the Orca, an electric scooter that embodies Kaco’s commitment to cutting-edge technology and eco-friendly transportation. With an integration rate exceeding 80% and an impressive range of 100 km, the Orca stands out in the market. Additionally, Kaco distinguishes itself by manufacturing the lithium batteries required for their scooters in-house, reinforcing their dedication to local production and self-sufficiency.
Kaco has invested significantly in research and development activities to ensure that their scooters meet the highest standards of quality, performance, and safety. The successful collaboration with UGFS North Africa, both in previous investment rounds and the current fundraising initiative, has played a pivotal role in supporting Kaco’s journey from concept to large-scale production.
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard