OX Delivers secures $1.5M grant - TechGyant

OX Delivers secures $1.5M grant for electric OX4 trucks in Rwanda.

OX-Delivers-secures-$1.5M-grant-for-electric-OX4-trucks-in-Rwanda

OX Delivers is a transport service startup that is driven by technology and headquartered in Leamington Spa, UK. The company was founded in 2020 with the aim of providing on-demand transport services to emerging markets and motorized transportation to businesses that lack access to it. Currently, OX Delivers serves approximately 4000 customers.

The startup’s innovative pricing model allows customers to pay only $1 for the space they need on a kilogram-per-kilometer basis through an application or toll-free number. With the grant it has received, the company plans to provide affordable transport to rural communities and create a “charge points” network for low-carbon energy, emphasizing its benefits.

According to CEO Simon Davis, OX Delivers’ transport-as-a-service model has been validated as a clean energy solution in the Global South. The company is introducing the all-electric OX4 truck, which will improve its operations and assist in electrifying its present depots (2). OX Delivers has also introduced a vehicle control unit, which will accelerate the development of advanced software for the electric truck.

Besides the Energy Catalyst funding grant, OX Delivers has raised about $10 million from investors. It has also received funding from various initiatives, including USAID, Innovate UK, and the Advanced Propulsion Centre. In 2022, OX Delivers received a grant of £8,500,000 ($10,722,707) from the Advanced Propulsion Centre UK, and in 2021, it was awarded a grant of £800,000 (more than $1 million) by Innovate UK.

With 900 locally produced electric vehicles registered in Rwanda in 2022, OX Delivers is playing an active role in the country’s electric vehicle market. Global manufacturers have already entered the country’s electric vehicle (EV) market, with Volkswagen launching its first electric vehicle in Africa in Rwanda in 2019. OX Delivers aims to enter the Global South market, which includes Africa, where EV revenue is expected to reach $85.6 million in 2024 and a market volume of $162.2 million by 2028.

Also read: Moove secures $10M from Stride Ventures to enhance urban mobility in India

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