Spiro raises new $215M to expand electric motorcycle and battery-swap network across Africa

African electric mobility company Spiro has raised $215 million in fresh equity funding to accelerate the expansion of its battery-swapping network and deepen its footprint across the continent, marking one of the largest capital raises in Africa’s electric mobility infrastructure space.

The round was backed by Impact Fund Denmark and Equitane, pushing Spiro’s total funding across recent rounds to over $365 million.

The company said the funds will support expansion into new markets, including the Democratic Republic of Congo and Ethiopia, while strengthening manufacturing, assembly, and technology development across its existing operations in seven African countries.

Spiro currently operates more than 100,000 electric motorcycles and 2,500 battery-swapping stations, with over 30 million completed swaps. Its infrastructure spans Kenya, Rwanda, Uganda, Togo, Benin, Nigeria, and Cameroon.

The company also runs manufacturing facilities in Kenya, Rwanda, and Uganda, alongside a battery recycling plant in Nigeria, as it builds a vertically integrated electric mobility ecosystem.

Commercial growth and climate impact for Spiro

Spiro says its electric motorcycles reduce operating costs for riders by up to 40%, saving users such as motorcycle taxi operators about $2 daily compared to petrol-powered alternatives.

Founder and chairman of Equitane, Gagan Gupta, said the company has moved beyond early-stage deployment into large-scale rollout across Africa.

A lifecycle assessment of its Kenya operations found a 72% reduction in emissions compared to fossil-fuel motorcycles, alongside lower particulate pollution and improved air quality indicators.

With over 150 engineers and more than 30 patents, Spiro says it is building Africa-specific mobility technology with ambitions for global export.

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