Spiro, a pan-African electric mobility firm, has secured US$50 million in debt funding from Afreximbank, Nithio, and the Africa Go Green Fund to accelerate the rollout of its battery-swapping infrastructure and broaden its electric vehicle operations across the continent.
The fresh financing comes on the heels of a US$100 million raise in October 2025, at the time the largest electric mobility funding round in Africa.
Spiro currently runs more than 2,500 battery-swapping stations and has deployed upwards of 80,000 electric motorcycles in six countries, namely Kenya, Uganda, Rwanda, Nigeria, Benin, and Togo. Pilot initiatives are also underway in Cameroon and Tanzania. To date, the company has completed over 30 million battery swaps and circulated more than 300,000 batteries, enabling in excess of one billion kilometres of emissions-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, Chief Executive Officer of Spiro.
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The capital injection will support expansion into additional markets, the advancement of automated battery-swapping and fast-charging systems, and the integration of renewable energy into its operations. Spiro also operates 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 backs projects focused on industrial energy efficiency, green transport, and emissions reduction, while Nithio leverages AI-powered analytics to direct capital towards clean energy ventures and climate resilience efforts.
