Kenya's ARC Ride Electric Vehicle Startup Raises $10 Million from Mirova
Investment in Electric Mobility: Mirova has invested $10 million in ARC Ride, a Kenyan electric mobility company, to expand its battery-swapping facilities for electric motorbikes, enabling access for local riders and promoting sustainable transport solutions in Africa.
Economic and Environmental Benefits: The Battery-as-a-Service model allows riders to save on fuel and maintenance costs while reducing CO₂ emissions, with the potential to serve over 100,000 riders in major cities and cut approximately 50,000 tonnes of CO₂ annually.
Growing E-Mobility Sector: The investment reflects increasing global interest in Africa's electric mobility market, particularly in the two-wheeler segment, which is expected to grow at 10.6% annually until 2029, presenting significant opportunities for startups like ARC Ride.
Climate Tech Funding in Kenya: Kenya has emerged as a leading destination for venture funding in Africa, with climate tech startups raising substantial amounts, indicating a robust sector supported by various organizations and contributing to the overall growth of the economy.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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