Electric mobility platform Spiro has closed a $215 million equity round from European and African institutional investors. The funding will expand its battery-swapping network and industrial footprint across seven African markets, positioning the company as a key enabler of the continent’s energy transition.
Spiro, an electric vehicle infrastructure platform operating in Kenya, Rwanda, Uganda, Togo, Benin, Nigeria, and Cameroon, has secured $215m in new investment. The round includes participation from Impact Fund Denmark and Equitane, building on prior backing from institutional partners such as FEDA. According to official disclosures, the capital will accelerate deployment of battery-swapping stations, expand assembly plants in Kenya, Rwanda, and Uganda, and support entry into the DRC and Ethiopia.
Why this matters: Africa’s urban transport sector faces rising fuel import dependency and aging infrastructure. Spiro’s model reduces rider mobility costs by up to 40% saving roughly $2 per day while third-party data shows its electric bikes deliver a 72% reduction in climate impact versus fossil-fuel motorcycles. The company also operates a battery recycling facility in Nigeria and holds over 30 patents.
Industries impacted: Logistics, public transit, energy utilities, and automotive assembly. Policymakers prioritizing energy sovereignty and urban air quality will find scalable EV infrastructure increasingly strategic. For investors, Spiro’s vertically integrated approach solar-powered swap stations, secondary-life battery storage, and local manufacturing offers a replicable template for emerging-market cleantech deployment.
About GlobeNewsInfo
GlobeNewsInfo.com is a business news platform providing latest updates on global business developments, projects, and contract opportunities across diverse sectors and regions. The platform is designed to serve as a trusted source of information for companies, investors, and professionals worldwide.