African electric mobility platform Spiro has secured a $215 million equity investment to accelerate the expansion of its electric vehicle and energy infrastructure footprint across the continent.

The funding round was backed by major institutional investors, including Impact Fund Denmark and Equitane, marking one of the largest investments in Africa’s emerging electric mobility sector.

According to the company, the capital injection will be deployed to scale its battery-swapping network, expand its industrial and assembly operations, and fast-track the rollout of next-generation electric vehicles across high-growth African markets.

Spiro currently operates in seven countries, including Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon, and says the latest investment positions it for a broader pan-African expansion. The company is also planning entry into additional markets such as the Democratic Republic of Congo and Ethiopia.

The firm said it has moved beyond the pilot stage of its operations and is now focused on large-scale deployment of its infrastructure-led electric mobility model, which integrates electric motorcycles, battery-swapping stations and supporting energy systems.

As part of its existing operations, Spiro has deployed about 100,000 electric vehicles and 2,500 smart-swapping stations across its markets. It also reported that its ecosystem supports thousands of direct and indirect jobs across the continent.

The company added that its electric motorcycles can reduce daily mobility costs for riders by up to 40 per cent compared to fossil-fuel alternatives, translating to savings of about $2 per day.

It also cited independent lifecycle assessments conducted in Kenya, which indicate that its electric bikes achieve a 72 per cent reduction in climate impact compared to conventional motorcycles, alongside an 80 per cent reduction in ozone depletion potential and a 20 per cent reduction in particulate matter emissions.

Spiro said the new funding will also strengthen its research and development capacity, supported by more than 150 engineers and 30 proprietary patents, as it expands into areas such as distributed clean-energy systems, solar-powered swap stations and battery recycling technologies.

Founder of Spiro and Chairman of Equitane, Gagan Gupta, said the investment represents a key milestone in scaling the company’s operations across Africa, adding that the firm has become a driver of industrialisation, local manufacturing and job creation.

“We are entering our next growth chapter to deliver clean, cost-effective energy and transport alternatives to millions of riders across the continent,” he said.

Chief Executive Officer of Impact Fund Denmark, Lars Bo Bertram, said the investment reflects both commercial potential and climate impact opportunities in Africa’s electric mobility sector, noting that Spiro aligns with long-term sustainable investment goals.