Spiro Raises $215 Million for Pan-African Expansion

Kenyan electric mobility startup Spiro has closed a significant $215 million equity funding round, positioning the company to accelerate its growth across the continent. As Africa’s largest player in this sector, Spiro offers battery-swapping solutions for two-wheel vehicles and is building an extensive charging infrastructure.

Rapid Growth and Impact

Spiro currently operates over 95,000 electric motorcycles with more than 2,500 battery swapping stations. The company has facilitated over 30 million battery swaps, enabling more than 1 billion kilometers of low-carbon travel—substituting costly fossil fuel imports with affordable and sustainable alternatives.

Strategic Expansion

The new funding will support several key initiatives:

• Expanding the battery-swapping network across Africa
• Strengthening industrial capabilities and assembly facilities
• Accelerating technology development
• Entering new high-growth markets

Spiro has already launched operations in Rwanda and Cameroon, building on previous funding rounds of $100 million last October and an additional $50 million earlier this year.

Investor Confidence

The investment underscores growing confidence in Africa’s electric mobility potential. Lars Bo Bertram, CEO of Impact Fund Denmark—one of the lead investors—highlighted both the commercial opportunity and the climate impact:

“We see significant potential for growth in Spiro and electric mobility across Africa, as well as measurable environmental benefits. This aligns perfectly with our investment strategy.”

With this latest funding, Spiro is poised to become a major force in transforming transportation systems while addressing sustainability challenges across the continent.