Meet Jit Bhattacharya & Jonathan Green Founders of BasiGo
Invest in startups like BasiGo alongside Climate Capital here.
Founders: Jit Bhattacharya - CEO & Jonathan Green - CFO
Motto: Create the future of clean, electric public transportation in Africa.
Year Founded: 2021
Stage: Seed
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Climate Capital: Frame the problem you are solving and the market
BasiGo: Buses are the most common mode of transport in African cities. In Nairobi, 20,000 diesel buses account for 40% of all passenger trips in the city. But these buses are also the largest source of toxic pollution choking the air in our cities. In the early days of the COVID pandemic, we were given a glimpse of what would happen if we electrified our public transport sector in Kenya. The government stopped all buses from operating and overnight, the air in Nairobi completely cleared.
Climate Capital: What are you building?
BasiGo: Electrification of public transport in Kenya also has massive climate impact. Over 90% of Kenya's electricity comes from clean, renewable energy. As a result, electrifying a single bus in Nairobi has greater marginal impact on climate emissions (> 50 tonnes per year) than similar initiatives in the western markets. To maximize climate impact from public transport electrification, we should be starting in East Africa so we launched BasiGo to make that happen.
BasiGo is introducing state-of-the-art electric buses into the informal public transport sector in Kenya. Our key innovation is a technology-enabled financing model called Pay-As-You-Drive which allows an African bus owner to purchase an electric bus for the same upfront cost as a diesel bus while then leasing the battery through a daily, mileage-based subscription fee. The Pay-As-You-Drive subscriptions offers a 15-20% savings compared to diesel.
Climate Capital: What has it taken to get to where you are today?
Since inception, BasiGo has raised $10.9 Million in seed funding which has been used to bring the first ever electric buses into passenger operations in Kenya. In 10 months, our electric buses have driven over 145,000 kilometers and carried over 200,000 passengers in Nairobi, all while mitigating 66 tonnes of CO2. Through our Pay-As-You-Drive financing model, BasiGo has received over 130 reservations (valued at over $20 Million in potential revenue) from Nairobi bus operators. We recently received our first batch of 15 production electric buses which will be deployed to customers in February 2023 through the Pay-As-You-Drive model.
Climate Capital: What are the core elements of the culture you are building at your company?
BasiGo: BasiGo has 4 core values that are central to how we work:
We make safe, electric transport ACCESSIBLE to all people in Africa.
We REVOLUTIONIZE the bus experience for bus owners and passengers.
We build solutions that SCALE to meet the urgency of the climate crisis.
We succeed as a TEAM by helping each other grow and thrive.
Climate Capital: What are the key challenges as you scale your company?
BasiGo: One of the key challenges in our business is the deployment of infrastructure to support a brand new electrified public transport fleet. While there is strong support for our initiative across private and public sector, the complexities of deploying infrastructure in the African market has proven to be one of the most significant challenges we have faced.
Climate Capital: What have you learned that you want to share with other founders?
BasiGo: We are working on a problem that everyone here in Africa wants solved - the replacement of dirty, uncomfortable, unsafe buses with something better. One of my key takeaways launching this venture is that when you are working on a problem that you and the world want solved, you will find extraordinary support to help you succeed.
Climate Capital: How can the broader climate community help you on your mission?
BasiGo: Africa is often overlooked with regards to CO2 mitigation because the continent is responsible for only 3% of global emissions. However, Africa is and the Global South are the most affected by climate change, and there are opportunities here for greater marginal impact on emissions than anywhere else in the world. Capital flows into the continent for climate mitigation serve the purpose of economic development and improved quality of life. We ask people to share this story and opportunity with the broader climate community so that Africa is not once again left behind in the Great Energy Transition.