Kenya’s low-cost new motor manufacturer Mobius Motors has raised an undsiclosed round of funding from Chandaria Industries in a move that will see the firm fulfill its first pre-orders in the local market.
The Chandaria Industries was represented by Darshan Chandaria who told the Business Daily:“We’re excited about this investment because Mobius caters for a market segment in which no other firm is playing. Small businesses are looking for a new car that combines functionality and durability at an affordable price and this is what we are providing in Mobius.”
Chandaria’s round of funding follows the firm’s recent raise of funding from Pan-African Investment Company and the appointment of former Safaricom CEO Michael Joseph as one its marketing advisors.
