- Spiro raises US$215M in a landmark equity funding round backed by international institutional investors.
- Capital will support expansion of battery swapping infrastructure, manufacturing capacity and EV deployment across Africa.
- Company plans to extend operations into the Democratic Republic of Congo and Ethiopia as demand for clean mobility solutions grows.
African electric mobility company Spiro has secured a landmark US$215M equity investment to accelerate the expansion of its electric vehicle ecosystem and battery swapping infrastructure across the continent.
The funding round is backed by major institutional investors including Impact Fund Denmark and Equitane, reinforcing growing international confidence in Africa’s rapidly evolving clean transport and energy infrastructure sector.
Already operating in seven African markets including Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon, Spiro has established itself as one of the continent’s leading electric mobility platforms. The new capital will be used to expand its battery swapping network, strengthen its industrial footprint, accelerate technology development and support entry into new high growth markets.
The investment comes at a time when African governments are increasingly seeking to reduce dependence on imported fossil fuels, strengthen energy security and modernise urban transport systems. As a result, investors are showing growing interest in scalable electric mobility platforms capable of supporting the continent’s industrialisation and energy transition objectives.
Spiro said it has moved beyond the proof of concept stage following years of optimisation across its vehicle portfolio, battery infrastructure and technology platform. The company is now focused on scaling operations across existing markets while expanding into new territories including the Democratic Republic of Congo and Ethiopia.
Africa’s fast growing urban population and increasing demand for affordable transport are creating significant opportunities for electric mobility solutions. Rising fuel prices and growing policy support for clean energy technologies are further accelerating the adoption of EV infrastructure across the continent.
According to Spiro, riders using its electric motorcycles can reduce daily transport costs by as much as 40%, generating savings of up to US$2 per day compared with conventional fossil fuel powered motorcycles.
Environmental benefits are also becoming increasingly evident. A third party verified lifecycle assessment conducted on Spiro’s operations in Kenya found that the company’s electric motorcycles deliver a 72% reduction in climate impact compared with fossil fuel alternatives. This equates to approximately 19 tonnes of CO₂ emissions avoided over the lifetime of each vehicle.
The assessment also identified an 80% reduction in ozone depletion potential and a 20% reduction in particulate matter emissions, highlighting the potential role of electric mobility in improving air quality and reducing public health risks in rapidly expanding African cities.
To support its growth strategy, Spiro has developed an extensive industrial and technology ecosystem. The company operates manufacturing facilities in Kenya, Rwanda and Uganda, alongside a battery recycling plant in Nigeria. Its business model combines locally designed vehicles, affordable battery swapping infrastructure and integrated maintenance services aimed at improving the commercial viability of electric mobility across Africa.
Spiro’s technology platform is supported by a research and development team of more than 150 engineers and a portfolio of over 30 proprietary patents. The company is also expanding beyond transport applications to develop a distributed clean energy network that supports renewable energy deployment and reduces reliance on imported fuels.
Among its latest innovations are IoT enabled, solar powered battery swapping stations and second life battery storage systems designed to support renewable energy integration and stationary energy storage applications.
With fresh capital secured and expansion plans underway, Spiro is positioning itself at the forefront of Africa’s emerging electric mobility and clean energy infrastructure sector, helping to drive both sustainable transport and broader energy transition goals across the continent.
Author: Bryan Groenendaal
