NAIROBI, Kenya (AP) — African electric vehicle firm Spiro has raised $215 million in equity financing to expand its battery-swapping and electric mobility infrastructure across Africa, the company said Monday.The investment round was backed by institutional investors in Europe and Africa, including Denmark’s Impact Fund, underscoring growing interest in Africa’s clean transport and energy sectors.“This past year marked a defining strategic milestone for Spiro,” Gagan Gupta, founder of Spiro and chair of Equitane, said in a statement. “Across seven active markets, our deployment of 100,000 electric vehicles and 2,500 smart-swap stations has turned sustainable mobility into an affordable, everyday reality.”Gupta said the company’s next growth phase would focus on delivering transport alternatives to millions of riders across the continent.
Spiro, which operates in Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon, said the new funding will support the expansion of its battery-swapping network, strengthen local manufacturing and assembly operations, and accelerate its entry into new markets, including the Democratic Republic of Congo and Ethiopia.
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