Spiro secures $270m to expand Africa’s electric mobility network

Spiro, an African electric mobility and clean energy company, has raised $270 million in its latest funding round to expand its electric vehicle and battery-swapping network across the continent.

The company announced the funding in Dubai, United Arab Emirates, on June 22, 2026.

The round includes a new $55 million investment from NewTrails Capital, a Chinese growth-stage investment fund focused on emerging markets. The fund has offices in Shanghai, Shenzhen and Nigeria.

Spiro said the capital will support its next phase of growth as it expands its electric mobility and energy infrastructure across Africa.

The company operates one of Africa’s largest battery-swapping networks for electric two-wheelers. It says it has deployed more than 100,000 electric motorcycles and 2,500 smart-swap stations across seven markets.

Spiro founder and Equitane chairman Gagan Gupta said the company had moved beyond the trial phase.

“I would like to thank NewTrails Capital for believing in Spiro’s model and supporting our unique tech, energy and innovation journey,” he said.

He added that the partnership would support Spiro’s pan-African and international expansion.

NewTrails Capital founding partner Yufan Zhang said Spiro had built a business that responds to Africa’s transport and energy needs.

“We believe Spiro is driving a profound ‘energy revolution’ across mobility use cases in Africa,” Zhang said.

The company said the funding will also support manufacturing and supply chain localisation, especially through partnerships with Chinese suppliers.

Spiro says its battery-swap model aims to replace fossil-fuel transport with cheaper and cleaner mobility options.

The company has recorded more than 30 million battery swaps to date. It says its long-term plan is to build electric vehicles in Africa for African and global markets.