African electric mobility firm Spiro has secured USD 215 million in fresh funding to accelerate the rollout of its electric vehicle ecosystem and battery-swapping infrastructure across Africa.
The investment round, supported by institutional investors including FEDA, brings together capital from both African and European investors, reinforcing confidence in the company’s long-term growth and expansion plans.
Funding to Support Expansion and Technology Development
Spiro plans to use the capital to expand its battery-swapping network, strengthen manufacturing and assembly operations, advance technology development, and enter new high-growth African markets.
The company said it has moved beyond the proof-of-concept stage after years of refining its vehicle portfolio, technology platform and energy ecosystem. The new funding is expected to support the next phase of its pan-African growth strategy.
EV Adoption Gains Momentum Across Africa
Africa’s rising urban population, increasing transportation demand, and growing focus on energy security are driving interest in electric mobility solutions across the continent, the company noted.
The company claimed that operating one of its electric motorcycles can reduce riders’ daily mobility costs by up to 40%, translating into savings of up to USD 2 per day compared with conventional petrol-powered motorcycles.
Expanding Footprint Across Seven Market
Spiro currently operates in seven African countries: Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon. The company is also preparing to enter additional markets, including the Democratic Republic of the Congo and Ethiopia.
Its manufacturing footprint includes vehicle production facilities in Kenya, Rwanda and Uganda, as well as a battery recycling facility in Nigeria.
The company said its technology ecosystem is supported by an R&D team of more than 150 engineers and a portfolio of over 30 patents. Beyond transportation, Spiro is also developing energy solutions, including solar-powered battery-swapping stations and second-life battery applications for renewable energy storage.
Africa’s Largest Battery-Swapping Network
Spiro has established itself as a leading player in Africa’s electric mobility sector, operating one of the continent’s largest battery-swapping networks for electric two-wheelers. The company reports that it has deployed more than 100,000 electric motorcycles, built a network of over 2,500 battery-swapping stations, and facilitated upwards of 30 million battery swaps. With the latest funding injection, Spiro is set to further expand its infrastructure and accelerate the adoption of sustainable mobility solutions across Africa.
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