Dodai raises $4 million in Series A funding from Nissay Capital, Musashi Seimitsu, and Inclusion Japan to scale its electric vehicles business in Ethiopia.
Amount Raised
$4 Million
Round Type
Series A
Addis AbabaManufacturingAutomotiveElectric VehicleInvestors
Description
Dodai, an electric vehicle manufacturing company based in Addis Ababa, Ethiopia, recently secured $4 million in Series A funding from Nissay Capital, Musashi Seimitsu, and Inclusion Japan. 80% of the funds raised will be used to bring in electric motorcycle parts and lithium batteries. The remainder will go towards operational expenses and software development. The startup intends to launch a battery-swapping system by the end of 2024.
Quick answer
Dodai raised $4 Million in a Series A round, dated March 24, 2024. Investors: Inclusion Japan, Musashi Seimitsu and Nissay Capital. Dodai is based in Addis Ababa, Addis Ababa, Ethiopia.
- How much did Dodai raise?
- Dodai raised $4 Million in a Series A round on March 24, 2024.
- Who invested in Dodai?
- Inclusion Japan, Musashi Seimitsu and Nissay Capital are named as investors in this round.
- What does Dodai do?
- Dodai Manufacturing PLC, a Japanese company in Ethiopia, currently assembling and selling electric motorcycles in Addis Ababa.
- Where is Dodai based and how big is it?
- Dodai is based in Addis Ababa, Addis Ababa, Ethiopia. Fundz records about 8 employees.
- Who are the decision-makers at Dodai?
- Fundz holds 1 contact at Dodai. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Automotive and Electric Vehicle around the same time
Companies in the same sectors as Dodai that raised within 45 days of this round, from Fundz verified event records.
- Lucid Group raised $1B (Funding Round) on March 25, 2024.
- IM Motors raised $1.1B (Series B) on March 2, 2024.
- Powerdot raised $108M (Funding Round) on February 29, 2024.
- Polestar raised $950M (Funding Round) on February 28, 2024.
- FleetPulse raised $11M (Seed) on May 8, 2024.
- EnviroSpark raised $50M on May 3, 2024.
Who to call at Dodai, and when
A new round usually means Dodai is about to hire and buy. The teams that reach out first get the meeting.
- An alert the day Dodai raises, hires an executive or expands, scored against what you sell
- The decision-makers there, with verified emails
- Who you already know at Dodai, from your own LinkedIn network
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Funding Insights
What this usually meansDodai raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
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