Spiro, a pan-African electric mobility company, has raised US$50 million in debt financing from Afreximbank, Nithio, and the Africa Go Green Fund to expand its battery-swapping infrastructure and electric vehicle operations.
- •The funding follows a US$100 million investment in October 2025, previously Africa’s largest electric mobility financing.
- •The company operates more than 2,500 battery-swapping stations and has deployed over 80,000 electric motorcycles across six countries including Kenya, Uganda, Rwanda, Nigeria, Benin, and Togo; with pilot programs underway in Cameroon and Tanzania.
- •Spiro has also completed more than 30 million battery swaps and circulated over 300,000 batteries, supporting over one billion kilometres of CO₂-free travel.
“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 Kaushik Burman, CEO of Spiro.
The capital will be used to extend Spiro’s network to new markets, advance automated battery-swap and fast-charging technology, and integrate renewable energy solutions. Spiro maintains regional production and assembly facilities in Kenya, Uganda, Nigeria, and Rwanda.
“Spiro has built a strong platform that is delivering tangible impact across multiple African markets; we are pleased to support the next phase of its growth as it scales critical clean mobility infrastructure,’’ said Laurène Aigrain, Managing Director of Africa Go Green Fund.
Africa Go Green Fund provides financing for industrial energy efficiency, green transport, and other projects that cut greenhouse gas emissions, while Nithio uses AI-driven analytics to channel capital toward clean-energy companies and climate resilience initiatives.
