NAIROBI, Kenya — Spiro has secured $50 million (about Sh6.5 billion) in debt financing to scale up its electric motorcycle operations and battery-swapping infrastructure across Africa.
The funding round was backed by the African Export-Import Bank (Afreximbank), climate-tech investor Nithio, and the Africa Go Green Fund. The investment signals growing confidence in sustainable transport solutions as African cities grapple with rising fuel costs and carbon emissions.
The company said the financing will support expansion into new markets, advancement of automated battery-swap technology, integration of fast-charging systems, and deployment of renewable energy solutions within its network.
The latest capital injection follows a $100 million investment secured in October 2025, strengthening Spiro’s balance sheet as it accelerates its electric mobility footprint.
“With strong financial backing and cutting-edge technology, Spiro is leading Africa’s transition to sustainable mobility. This new funding reinforces our vision of building a robust, scalable energy network tailored for Africa by Africans,” said Chief Executive Officer Kaushik Burman.
Spiro operates production and assembly facilities in Kenya, Uganda, Tanzania, and Ghana. The company says it plans to deepen localization by expanding regional manufacturing hubs, including upcoming facilities in Uganda, Kenya, Nigeria, and Rwanda.
As part of its scale-up strategy, Spiro has rolled out several production lines across the continent. These include an all-women motor assembly line designed to enhance manufacturing efficiency and promote gender inclusion in the industrial workforce. The firm has also launched home charger production lines to support residential users and battery swap stations.
In addition, Spiro recently introduced a fast-charger manufacturing line to increase electric vehicle (EV) charging accessibility in key urban centres. The company says these initiatives align with Africa’s broader push toward green industrialization and climate resilience.
Spiro differentiates itself through a battery-swapping model, which allows riders to exchange depleted batteries for fully charged ones in minutes. This approach addresses range anxiety and charging time limitations that often hinder EV adoption.
According to company data, Spiro operates in eight African countries and has achieved over 500 million kilometres in electric mobility use. It reports saving 67,812 tonnes of carbon dioxide emissions, completing more than 20 million battery swaps, and running 1,462 battery-swapping stations. The company also has more than 30,000 electric motorbikes in circulation.
The expansion comes as governments across Africa promote clean energy transitions under national climate action plans aligned with the Paris Agreement. In Kenya, for instance, policy incentives and tax exemptions on electric mobility components aim to attract private sector investment into green transport.
Industry analysts note that while infrastructure gaps and upfront costs remain challenges, rising fuel prices and environmental concerns are accelerating demand for electric two-wheelers — particularly in last-mile delivery and commercial transport sectors.
With fresh capital and expanding production capacity, Spiro is positioning itself at the forefront of Africa’s electric mobility shift, betting that localized manufacturing and innovative energy networks will drive long-term adoption.
