en.Wedoany.com Reported - Spiro has completed a $215 million funding round to accelerate the deployment of electric mobility and battery-swapping infrastructure in Africa. The investment, supported by major backers including Impact Fund Denmark, Equitane, and long-term institutional partner FEDA (a fund under the African Export-Import Bank), positions this electric vehicle infrastructure platform as a leader in Africa's clean infrastructure sector.
Currently, Spiro operates in seven of Africa's fastest-growing urban markets, including Kenya, Rwanda, Uganda, Togo, Benin, Nigeria, and Cameroon, with plans to enter new markets such as the Democratic Republic of the Congo and Ethiopia. The company has deployed 100,000 electric vehicles and 2,500 smart battery-swapping stations, creating 6,000 sustainable direct and indirect jobs. This funding will be used to expand the battery-swapping network, strengthen industrial and assembly operations, and accelerate the technological development of next-generation electric vehicle infrastructure.
As African economies seek to reduce reliance on imported fuels, enhance energy and industrial sovereignty, and modernize urban transportation systems, scalable electric vehicle infrastructure platforms are attracting global investor attention. For riders, operating a Spiro electric vehicle can reduce daily commuting costs by up to 40%, saving approximately $2 per day compared to fuel-powered motorcycles.
Third-party verified lifecycle assessments show that Spiro electric motorcycles operating in Kenya reduce climate impact by 72% compared to fuel-powered motorcycles, equivalent to avoiding approximately 19 tons of CO2 emissions over the vehicle's lifespan. The study also found an 80% reduction in ozone depletion potential and a 20% reduction in particulate matter emissions. These figures highlight the potential of electric mobility to improve urban air quality and reduce public health risks.
Spiro's industrial footprint includes flagship manufacturing facilities in Kenya, Rwanda, and Uganda, as well as an advanced battery recycling facility in Nigeria. Combined with localized vehicle design, affordable battery-swapping infrastructure, and a comprehensive maintenance ecosystem, the company is making electric mobility commercially scalable. Its technology platform is supported by R&D centers, over 150 engineers, and more than 30 proprietary patents. Spiro is expanding its business from urban mobility to distributed clean energy utility networks, including IoT-driven solar-powered swapping stations and second-life battery applications for stationary renewable energy storage. Gagan Gupta, founder of Spiro and chairman of Equitane, stated: "The past year has marked a defining strategic milestone for Spiro. Across seven active markets, we have deployed 100,000 electric vehicles and 2,500 smart swapping stations, turning sustainable mobility into an affordable reality for people every day. Spiro has become a key driver of local industrialization, value creation, and manufacturing in the African market, creating 6,000 sustainable direct and indirect jobs. With support from a global investor base, we are entering the next chapter of growth, providing clean, affordable energy and transportation alternatives to millions of riders across the continent."
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