Spiro, an electric motorcycle manufacturer, has raised $50 million in debt financing to expand its electric motorcycle operations across Africa.
The latest funding has been supported by the African Export-Import Bank (Afreximbank), climate-tech investor Nithio, and the Africa Go Green Fund.
The decision highlights growing investor confidence in sustainable transport solutions and will enable Spiro to enhance its pioneering battery-swapping network across Africa.
Spiro Secures Funding for E-Mobility Expansion
With production and assembly facilities in African countries, including Kenya, Uganda, Tanzania, and Ghana, Spiro intends to use the $50 million funding to:
- Expand the company’s network to new markets
- Advance automated battery-swap technology
- Incorporate fast-charging technology
- Integrate renewable energy solutions
The latest funding follows the US$100 million investment in October 2025.
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Commenting on the latest funding, Spiro Chief Executive Officer Kaushik Burman stated that the funding will enable the company to transition into sustainable mobility and that the funding reinforces the company’s vision in Africa.
“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.
Spiro Launches New Facilities Across Africa
Spiro has launched several state-of-the-art facilities across Africa, including an all-women motor assembly line set to produce motors daily, ensuring efficiency and precision in manufacturing.
The company has also launched production of home chargers. A newly established line will manufacture home chargers daily, catering to both residential use and battery swap stations.
Further, Spiro launched a fast-charger production line that will deliver units daily, to be strategically deployed to enhance EV charging accessibility across key locations.
“This initiative underscores Spiro’s commitment to innovation, sustainability, and women’s empowerment while addressing Africa’s urgent infrastructure needs for electric mobility,” added Spiro.
Spiro CEO, Kaushik Burman, noted that Spiro differentiates from other competitors in terms of affordability and high-standard products, with a main focus on the localization of industrialization.
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About Spiro Company
Spiro is among the largest electric mobility companies in Africa, which operates the battery swapping infrastructure in eight African countries.
So far, Spiro has achieved over half a billion kilometers and saved 67,812 tonnes of CO2.
The motorcycle maker crossed 20 million battery swaps and operated over 1,462 battery swapping stations with more than 30,000 motorbikes in circulation.
Through its expanding regional production network and upcoming facilities in Uganda, Kenya, Nigeria, and Rwanda, Spiro is committed to delivering affordable, locally manufactured electric mobility solutions at scale across Africa.
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