A zero-emission automotive network to connect the Global South

They are building an affordable, clean transport ecosystem for frontier and emerging markets as they seek to remove the barrier to economic development posed by a lack of access to transport which affects millions of people in the Global South. For many of us, next day delivery is nothing new, whether you’re running a business or ordering something for your home, but for OX customers in Rwanda, many used to travel by bus to a wholesale market to buy stock, and then wait, sometimes for days, to make the return trip with their produce by hitching a ride on a lorry. OX Delivers is reimagining how these entrepreneurs get their goods to and from market.

With a Total Addressable Market of over 3billion (est. total number of people who do not own a vehicle), Davis & Dowsett say there is enormous scope to build a successful international company. They estimate that over the next 10 years OX will serve 8M customers and reach $4BN revenue, as well as saving millions of tonnes of CO².

Their transport solution incorporates purpose-built technology: a next-generation electric truck designed, engineered, and tested for emerging market conditions and a fully-integrated digital platform which leverages data analytics to optimise both the logistics operation and truck development. Last year, TIME magazine named it one of the best inventions of 2022! The team are also running a pilot program in Rwanda through which they have developed an innovative depot operations model integrating the roles of driver, mechanic, and coordinator

Since its launch in 2021, the OX Rwanda pilot has grown from one depot to four with a central office in Kigali, all of which now serve over regular 2000 customers, using third party hired trucks. OX has seen significant traction with exceptional revenue growth, having now reached $1million ARR.

Back in OX UK headquarters in Leamington Spa, the electric OX truck is still going through R&D to optimise it’s capabilities. Funded by a UK government grant from the Advanced Propulsion Centre and angel match funding, they are making continual improvements and innovations to the design. The innovations include the development of advanced, affordable EV technology through UK localisation of EDU assembly and manufacture, battery cost and density optimisation, lightweight resilient structures, intelligent off-road traction, and an advanced end-to-end closed-loop digital ecosystem. All of these features optimise cost and efficiency.

OX is committed to being ready to scale up manufacturing in 2024 and start expanding operations in Rwanda with electric trucks. The trucks will be exported flat packed and assembled in microfactories in Rwanda, and then in other countries as they expand. At this point, the depot economics become profitable: further to the electric truck being much cleaner for the environment, it will also be much cheaper to run. The purpose design also means trucks will spend less time off the road due to breakdown and repairs, and more time on the road generating revenue.

The affordable and reliable transport service OX Delivers is offering is not something their customers have previously experienced. Now they can grow and/or move more produce, there is less stock spoilage, and increased productivity and incomes. This is making an enormous difference and when OX Delivers expands, there is potential to impact millions of people in the Global South. This end-to-end, zero-emission automotive ecosystem is designed to work in harmony with the terrain and the requirements of the challenge ahead – we can’t wait to see what they do!

OX Delivers is preparing for its next investment raise in Q4 2023, if you would like to know more, please contact Senior Business Lead, Kathryn Bridge kbridge@oxdelivers.com, or reach out to the founders via LinkedIn.

University, consistently ranked in the Financial Times (FT) Executive MBA rankings.