MAX.ng raises $7M round backed by Yamaha and pilots EVs in Nigeria

Nigerian motorcycle transit startup MAX.ng has raised a $7 million funding round led by Novastar Ventures, with participation of Japanese manufacturer Yamaha.

Based in Lagos, the company’s app-based platform coordinates motorcycle taxi and delivery services for individuals and businesses. Six-million of the investment is in Series A capital followed by $1 million in grants.

MAX has an extended menu for the round. “We intend to invest massively in our technology capabilities,” including the company’s payment infrastructure, CFO Guy-Bertrand Njoya told TechCrunch.

The startup will also expand to 10 cities in West Africa (starting in Ghana and Ivory Coast) and add new vehicle classes—including watercraft and three-wheeled tuk tuk taxis.

And in what could be a first in…

Read Story

Related Post