Spiro

EV maker Spiro has closed a $270 million investment round. The new Chinese-backed funding aims to expand its electric motorcycles and battery-swap network across Africa.

African e-bike manufacturer Spiro plans to produce 90% of its components in Africa by early 2027, moving from importing parts. The company has deployed over 100,000 electric motorcycles and 2,500 battery swap stations across seven East and West African countries and raised $215 million to expand into DR Congo and Ethiopia. Electric vehicle sales in Africa grew nearly six-fold between 2023 and 2025, driven by startups and companies like China’s BYD.

African electric vehicle firm Spiro raised $215 million in equity financing to expand its battery-swapping and electric mobility infrastructure across Africa, supported by institutional investors in Europe and Africa. The funding will accelerate Spiro's growth in seven active markets and new regions like the Democratic Republic of Congo and Ethiopia, aiming to provide affordable sustainable transport solutions.

African electric mobility company Spiro has raised $215 million in equity financing to expand its battery-swapping and electric vehicle infrastructure across seven African markets. The funding aims to enhance electric mobility solutions in the region.