Spiro raises $215 million equity investment to scale electric mobility and battery-swapping infrastructure across Africa

Type: Financing · Technology: Transport · Country: Kenya, Rwanda, Uganda, Nigeria · Value: $215M · Announced: 2026-06-02

Nairobi-based electric mobility platform Spiro secured $215 million in an equity investment round to expand its electric bike and battery-swapping infrastructure across Africa. The company, which operates 100,000 electric motorcycles and over 2,500 swapping stations with 30 million battery swaps completed, plans to use the funds to scale its battery-swapping network, manufacturing footprint, and next-generation electric vehicle infrastructure in high-growth African markets. Spiro's industrial footprint includes manufacturing plants in Kenya, Rwanda, and Uganda, and a state-of-the-art battery recycling facility in Nigeria. The funding round attracted commitments from institutional investors, including Impact Fund Denmark and Equitane, with Equitane's Gagan Gupta serving as Spiro's Founder and Chairman. The company's electric vehicles deliver a 72% reduction in climate impact compared to fossil-fuel motorcycles, equivalent to approximately 19 tons of CO₂ emissions avoided over a vehicle's lifespan, alongside an 80% reduction in ozone depletion potential and a 20% reduction in particulate matter emissions.

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