The Development Bank of Southern Africa (DBSA) has led a R50 million funding round for electric vehicle (EV) infrastructure company Zimi.
The Stellenbosch-based company, which provides EVs, charging infrastructure and energy management systems for commercial fleets, said the funding will be used to expand its operations and accelerate the deployment of EV charging infrastructure for logistics and fleet operators.
According to the company, the investment will enable the expansion of existing customer projects and pilot programmes while facilitating the development of additional fleet charging sites.
DBSA Group Executive: Programmes Phindile Masangane said the bank views the development of EV charging infrastructure as an important component of South Africa’s transition to a lower-carbon economy.
Zimi CEO and founder Michael Maas said the company’s business model combines EVs, charging infrastructure, solar energy systems and energy management technologies. “This funding is instrumental in helping us make EVs possible for fleets across South Africa,” Maas said.
The funding round was led by the DBSA with participation by Keyo Ventures and a group of angel investors.
Over the next 18 months, Zimi aims to deploy approximately 200 commercial fleet charging stations and facilitate the rollout of around 2 000 EVs.
