Nairobi, Feb. 15 -- Swedish-Kenyan electric vehicle firm Roam has raised $14 million from equity investors besides a $10 million debt commitment from the US government, taking its latest fundraising to $24 million (Sh3.8 billion).

The company says the funds will be used to expand its production of locally designed and assembled electric motorcycles and buses.

The equity investment was led by Equator Africa which was joined by At One Ventures and TES Ventures among others.

The debt will be sourced from the US government's International Development Finance Corporation (DFC).

Roam said the funding will also be used to fuel its mission to revolutionise African transportation with innovative products specifically designed for consumers acr...