Founded in 2022, Spiro builds and operates dense networks of battery-swap stations for electric motorcycles and assembles vehicles in select markets. It also operates a battery recycling plant in Nigeria and has plans to expand into markets such as Ethiopia and the Democratic Republic of the Congo. The company reports deployments of more than 100,000 electric motorcycles and over 2,500 swap stations across seven African markets. Spiro combines vehicle financing, local manufacturing and energy infrastructure, including solar-powered swap stations and battery storage systems. Its recent $215 million equity raise, alongside prior raises of $100 million (led by Afreximbank’s FEDA) and $50 million in debt, positions the company to scale its network, manufacturing capacity and energy operations further. Spiro competes in a crowded African electric mobility market that includes players such as Ampersand, Roam and BasiGo.

Total raised

$476M

Funding rounds

7

Latest round

Equity

Latest activity

Jun 2026