Deal Summary
Renew Capital Ltd (Renew Capital), an Africa-focused impact investment firm, has invested in Stima Kenya Ltd (STIMA), a Nairobi-based company specialising in electric vehicle (EV) battery management solutions. Founded in 2020, STIMA operates across the EV value chain, including manufacturing, deploying e-motorcycles, and providing battery-swapping infrastructure. STIMA also provides a software-as-a-service (SaaS) platform that enables asset monitoring and helps asset financiers track asset performance. The investment was made through Renew Venture Lab Fund 2 (RVL2), launched in February 2024, which is designed to invest in up to 50 tech start-ups across Africa, offering training and support to founders and their teams. The most successful companies in RVL2 will be eligible for larger investments from Renew Capital Fund 1, the firm’s growth-stage investment fund. Renew Capital manages investments for the Renew Capital Angels, a global network of angel investors, foundations, and family offices seeking financial returns alongside sustainable social impact.
Terms
- Fund
