African electric mobility company Spiro has raised $215 million in an equity funding round. The money will be used to accelerate the expansion of its electric vehicle and battery-swapping infrastructure across the African continent.Image: SpiroMoreover, the fresh capital will also be used to strengthen the company’s ‘industrial and assembly footprint, accelerate technology development and support the company’s entry into new high-growth African markets.’ That likely also includes a new R&D centre in Kenya, which the company just recently announced.The investment round was backed by a group of institutional investors from Europe and Africa, including Impact Fund Denmark and Equitane. Spiro also highlighted the continued support of long-standing investor FEDA. The company did not disclose the full list of participating investors or specify which party led the funding round.Spiro said the investment reflects growing investor interest in scalable electric mobility infrastructure in Africa, as governments and businesses seek to reduce dependence on imported fossil fuels, strengthen industrial capabilities and modernise urban transport systems. The company added that operating an electric motorcycle through its platform can lower daily mobility costs for riders by up to 40 per cent compared to combustion-powered motorcycles.Spiro currently operates in Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon. It plans to further expand to countries including the Democratic Republic of Congo and Ethiopia. The company’s industrial footprint includes manufacturing facilities in Kenya, Rwanda and Uganda, as well as a battery recycling plant in Nigeria.The focus is on electric two-wheel mobility and operates what it describes as Africa’s largest battery-swapping network for electric motorcycles.“This past year marked a defining strategic milestone for Spiro,” said Gagan Gupta, founder of Spiro and chairman of Equitane. “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 added that Spiro has created 6,000 direct and indirect jobs across its markets and is entering “its next growth chapter” to provide “clean, cost-effective energy and transport alternatives to millions of riders across the continent.”Lars Bo Bertram, CEO of Impact Fund Denmark, said: “We are investing in Spiro and bringing Danish pension capital into one of Africa’s most promising growth markets because we see potential for significant commercial growth in Spiro and electric mobility across Africa, as well as measurable climate impact.”spironet.com