Africa’s largest electric mobility company, Spiro, has secured a landmark $215 million equity investment to accelerate the expansion of electric vehicle (EV) infrastructure, battery-swapping networks and clean energy solutions across Nigeria and six other African countries.
The funding round was backed by major institutional investors, including Impact Fund Denmark and Equitane, reflecting growing international confidence in Africa’s emerging electric mobility sector.
The investment comes as African countries increasingly seek alternatives to costly imported fuel, while pursuing cleaner transportation systems and stronger industrial development.
Read also: Spiro expands electric mobility in Ogun with 1,000 bikes
Spiro, which currently operates in Nigeria, Kenya, Rwanda, Uganda, Togo, Benin and Cameroon, said the fresh capital would support the expansion of its battery-swapping stations, manufacturing and assembly operations, technology development, and entry into new markets such as the Democratic Republic of Congo and Ethiopia.
The company said it has moved beyond the proof-of-concept stage after years
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