San Francisco, CA | March 4, 2026: Zeno, the electric-mobility and distributed energy services company, today announced it has raised a combined $25 million in Series A equity and debt financing. The equity round was led by Congruent Ventures, with participation from over a dozen existing and new investors. Debt facilities were provided by Trifecta Capital and Camber Road.
Company Achievements & Differentiation
Operating in four cities across East Africa with a charging network spanning 150+ chargepoint locations, Zeno was the first company globally to develop and introduce interoperable multi-modal charging for two and three-wheel vehicles.
By combining:
- Small-footprint, high-capacity swap stations
- Plug-in public fast chargers
- Home charging options
Zeno has demonstrated flexible, customer-centric charging solutions that outperform swap-only business models, delivering strong charging economics geared toward profitability.
Pre-Series A Milestones
Following its $9.5M seed round led by Lowercarbon Capital, Zeno achieved milestones more commonly seen in SaaS businesses than EV OEMs or charge point operators:
- Completed full-stack, patent-protected development of three charging products, battery, and flagship vehicle – the Emara sport utility motorcycle – along with a cloud-based operating system.
- Launched commercial operations, scaling to serve ~1,000 motorbike and energy subscription customers across four cities.
- Delivered high-quality, reliable products and customer service in an industry often plagued by product failures, service challenges, and long wait times at swap stations.
Michael Spencer, CEO & Founder, Zeno: “Our focus from day one has been the right product first, then rigorous execution; being the best mover, not the first mover. We have demonstrated excellent, rapid, and cost-effective product development. With this new round of funding, we are excited to accelerate growth with the operational excellence and intensity that defines Zeno.”
Gray Robinson, Partner, Congruent Ventures: “Zeno’s solution uniquely satisfies commercial performance requirements in an electric model with 50% lower operating costs than ICE alternatives. We believe they have the platform and team required to achieve rapid scale.”
Funding Utilization
The $25M Series A financing will be used to:
- Expand Zeno’s charging network across East Africa.
- Increase production of the Emara motorcycle to serve a waitlist of 25,000+ retail and fleet customers.
- Deepen geographic footprint and extend product offerings.
Zeno’s broader vision is to create an energy generation and productive use ecosystem, where its batteries power not only movement but also homes and businesses across emerging markets.
About Zeno
Founded in 2022, Zeno is a full-stack electric-mobility company reshaping how people move and use energy in emerging markets.
- Founded by Michael Spencer, a serial emerging market entrepreneur and former Tesla executive.
- Team includes leaders from Tesla, Apple, Ola, and Ather.
- Offices in San Francisco, Nairobi, and Bangalore.
🌐 Learn more: www.zeno.earth
About Congruent Ventures
Congruent Ventures is a leading early-stage venture firm focused on climate and sustainability challenges across:
- Mobility & Urbanization
- Energy Transition
- Food & Agriculture
- Sustainable Production & Consumption
- Manages $1B+ AUM across climate tech funds.
- Portfolio includes 59 companies, with one of the largest climate portfolios in early-stage venture.
🌐 Learn more: www.congruentvc.com
