African electric mobility company Spiro has secured a landmark $215 million investment round to accelerate the expansion of its electric vehicle (EV) and battery-swapping infrastructure across the continent.
The funding, backed by major institutional investors including Impact Fund Denmark and Equitane, positions Spiro among Africa’s leading clean infrastructure platforms. The company plans to use the capital to expand its battery-swapping network, strengthen its manufacturing footprint, advance technology development, and enter new high-growth markets.
Already operating in seven African countries—Kenya, Rwanda, Uganda, Togo, Benin, Nigeria, and Cameroon—Spiro is now preparing for further expansion into markets such as the Democratic Republic of Congo and Ethiopia.
The investment reflects growing international confidence in Africa’s rapidly developing electric mobility sector. As governments and businesses seek to reduce dependence on imported fuel, strengthen energy security, and modernise transport systems, EV infrastructure is emerging as a key area of investment.
Africa’s urban population continues to grow rapidly, driving demand for affordable and sustainable transportation solutions. Rising fuel prices and increasing support for clean energy initiatives have further strengthened the case for electric mobility.
For riders, the benefits are tangible. According to Spiro, operating one of its electric motorcycles can reduce daily transport costs by up to 40%, generating savings of as much as $2 per day compared to conventional petrol-powered bikes.
Beyond cost savings, Spiro says its electric mobility ecosystem is delivering significant environmental benefits.
A recent independent lifecycle assessment of the company’s operations in Kenya found that Spiro’s electric motorcycles reduce climate impact by 72% compared to fossil-fuel alternatives. This translates into approximately 19 tonnes of avoided carbon emissions over a vehicle’s lifespan.
The study also found an 80% reduction in ozone depletion potential and a 20% reduction in particulate matter emissions, highlighting the potential of electric transport to improve urban air quality across African cities.
Spiro has grown into Africa’s largest electric mobility company, with more than 100,000 electric motorcycles on the road, over 2,500 battery-swapping stations, and more than 30 million battery swaps completed.
Its industrial footprint includes manufacturing facilities in Kenya, Rwanda, and Uganda, as well as a battery recycling facility in Nigeria. Supported by a research and development team of more than 150 engineers and a portfolio of over 30 patents, the company is also developing solar-powered swap stations and energy storage solutions using second-life batteries.
Founder Gagan Gupta said the company’s expansion has already created approximately 6,000 direct and indirect jobs across Africa. With fresh capital and growing investor support, Spiro is positioning itself to play a central role in Africa’s transition toward cleaner, more affordable mobility and energy systems.