African Electric Mobility Firm SPIRO Secures $215 Million for Expansion

African electric mobility firm SPIRO has raised $215 million from European and African investors, moving closer to a $1 billion valuation as it accelerates expansion across key African markets, founder Gagan Gupta said.

The funding will support expansion of Spiro’s battery-swapping network, production capacity, and operations across seven African countries, while preparing entry into Malawi, Mali and Ethiopia.

Investors include Impact Fund Denmark and Equitane Inc., underscoring growing appetite for transport and energy infrastructure platforms across Africa’s rapidly urbanizing cities.

Spiro operates more than 100,000 electric motorcycles and 2,500 battery-swapping stations, completing over 15 million swaps, according to the company.

It is also expanding manufacturing and recycling operations in Kenya, Rwanda, Uganda, and Nigeria, alongside a planned 100-megawatt smart energy network.

The company said its model continues to reduce downtime for riders through rapid battery swaps, supporting income stability for commercial operators in dense urban transport corridors networks.

📌Tap the comment below to read the full story.

#electric mobility #African startups #investment #sustainable transport #energy infrastructure