Spiro has closed a $270 million equity funding round, strengthening its position as one of Africa’s leading electric mobility companies. The round includes a $55 million investment from Chinese growth-stage fund NewTrails Capital, underlining the growing role of Chinese capital and supply chains in Africa’s clean transport transition.
Major backing for electric mobility
The Dubai-based company manufactures electric motorcycles and operates battery-swapping stations across seven African markets. Its model is built around reducing the cost of transport for motorcycle riders while cutting dependence on petrol.
The latest funding round also includes backing from European and African institutional investors, including Impact Fund Denmark, Equitane and the Fund for Export Development in Africa.
China’s role expands
NewTrails Capital, which has offices in Shanghai, Shenzhen and Nigeria, focuses on growth-stage investments in emerging markets. Its participation signals increasing Chinese interest in Africa’s energy transition, particularly where electric vehicles, batteries and infrastructure overlap.
The investment is expected to support Spiro’s manufacturing localisation strategy and strengthen cooperation with Chinese suppliers.
Battery swapping at scale
Spiro’s business model separates the motorcycle from the battery, allowing riders to swap depleted batteries at dedicated stations rather than charging them overnight. The company says this can reduce daily transport costs by as much as 40 percent compared with petrol motorcycles.
Founder Gagan Gupta said Spiro now operates more than 100,000 electric motorcycles and more than 2,500 battery-swap stations across Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon.
Expansion across Africa
The new capital is expected to accelerate Spiro’s entry into additional markets, including the Democratic Republic of the Congo, Ethiopia, Malawi and Mali.
For African cities, electric motorcycles could help reduce fuel imports, lower urban emissions and modernise one of the continent’s most important transport segments.
The funding round also reflects a broader shift in African mobility, where electric vehicles are increasingly being treated not only as consumer products but as infrastructure platforms combining vehicles, batteries, energy distribution, payments and service networks.
As demand for affordable transport continues to rise, Spiro’s latest financing places the company at the centre of Africa’s fast-growing electric mobility sector.
Newshub Editorial | Africa – 26 June 2026
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