African electric mobility company Spiro has raised US$215 million in equity funding to accelerate the expansion of its electric motorcycle network and battery-swapping infrastructure across the continent, the company said on Tuesday.
The funding round was backed by institutional investors including Impact Fund Denmark and Equitane, reflecting growing international interest in Africa’s emerging electric mobility and clean transport sector.
Spiro said the capital will be used to scale its battery-swapping stations, expand manufacturing and assembly operations, advance technology development and support entry into new African markets.
The company currently operates in seven countries Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon and plans further expansion into the Democratic Republic of Congo and Ethiopia.
Spiro has deployed more than 100,000 electric motorcycles and built over 2,500 battery-swapping stations across its existing network, making it one of the continent’s largest electric two-wheel mobility operators.
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The company’s model allows riders to exchange depleted batteries for fully charged units in minutes, avoiding the long charging times associated with conventional electric vehicles and addressing one of the key infrastructure constraints in emerging EV markets.
Electric motorcycles are widely used across many African cities for transport and delivery services, making them a central focus of efforts to electrify urban mobility and reduce dependence on imported fuel.
Spiro said its expansion strategy also includes strengthening local manufacturing capacity, with vehicle assembly plants in Kenya, Rwanda and Uganda, as well as a battery recycling facility in Nigeria.
The company is also investing in energy infrastructure, including solar-powered battery-swapping stations and battery storage systems, positioning itself not only as a mobility provider but also as an energy solutions company.
Industry analysts say battery-swapping technology is gaining traction in Africa due to its suitability for high-utilisation transport sectors, where downtime significantly affects rider income and operational efficiency.
Spiro said its system is designed to reduce both operational costs and environmental impact, with lifecycle assessments indicating lower emissions compared with traditional petrol-powered motorcycles.
The company also noted that riders benefit from reduced fuel and maintenance costs, which can improve earnings in informal transport and delivery markets.
The latest investment reflects a broader surge in funding for electric mobility startups across Africa, as governments and private investors increasingly focus on reducing fuel import dependence, improving urban air quality and modernising transport infrastructure.
Demand for affordable and scalable electric transport solutions is rising alongside rapid urbanisation, particularly in East and West African cities where motorcycle taxis play a key role in daily mobility.
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Analysts say the success of battery-swapping models will depend on the pace of infrastructure rollout, regulatory support and the ability to scale reliable power supply systems across multiple markets.
However, Spiro’s expansion across several countries suggests growing momentum behind battery-based mobility solutions as a practical alternative to conventional EV charging systems in regions with limited grid infrastructure.
With fresh capital in hand, the company is positioning itself as a key player in Africa’s transition toward cleaner, lower-cost and more efficient transport systems.
