Spiro Raises $100 Million in Africa’s Largest-Ever Investment in Electric Mobility - CleanTechnica

Spiro, a leading African electric two-wheeler and battery swapping company, has raised $100 million in what is reported as Africa’s largest-ever investment in electric mobility. This latest funding round, which includes $75 million from the Fund for Export Development in Africa (FEDA) under Afreximbank, brings Spiro’s total funding to $280 million. The investment underscores strong confidence in Spiro’s mission to provide affordable, accessible, and sustainable mobility solutions across Africa, particularly through its battery-swapping ecosystem and electric motorcycles. Spiro aims to deploy over 100,000 electric motorcycles by 2025, representing a 400% year-over-year growth. The electric motorcycle sector in Africa is rapidly evolving, driven primarily by private startups addressing the high fuel and maintenance costs of internal combustion engine (ICE) motorcycles, which dominate the continent’s transport landscape. With an estimated 30 million ICE motorcycles serving last-mile logistics and taxi sectors, especially in East, Central, and West Africa,