Holocene, the South Africa-based venture capital firm specializing in early-stage climate technology, has officially announced its latest investment in Yongeza Capital. This move signals a significant commitment to decarbonizing Africa’s transport sector by scaling essential infrastructure for electric mobility.
Yongeza Capital is tackling the primary barrier to electric vehicle (EV) adoption, charging downtime, by developing a robust battery-swapping network tailored for electric two-wheelers.
The company’s model is built for the high-intensity demands of Uganda’s delivery and transport (boda boda) economy. Key features of their operation include:
- Instant Mobility: Riders can exchange depleted batteries for fully charged units in seconds, eliminating the hours-long wait required by traditional plug-in charging.
- Economic Continuity: By removing charging delays, Yongeza ensures that drivers remain productive and their earning potential is maximized.
- Scalable Infrastructure: The investment will support the continued expansion of swap stations across urban hubs to create a seamless energy grid for riders.
Despite being a relatively new player, Yongeza has demonstrated rapid traction and impressive scale. In a formal statement, Holocene lauded the company’s ability to pair environmental impact with a rigorous commercial framework.
Holocene noted:
Since launching in June 2024, they’ve activated a burgeoning network of swap stations, executed almost 500,000 swaps, and reduced drivers’ carbon footprint—all with a solid business model behind it. That’s the kind of operational discipline and financial acumen that turns infrastructure plays into real businesses.
This partnership highlights a growing trend of “infrastructure-as-a-service” in the African tech ecosystem. By backing Yongeza, Holocene is not just investing in a hardware company, but in the energy backbone required to transition one of East Africa’s most vital economic sectors toward a sustainable, low-carbon future.
