Grace Ashiru
Spiro, an electric mobility company, has raised $50 million (KES 6.5 billion) in debt financing, according to company statements.
Afreximbank participated alongside Nithio and Africa Go Green Fund managed by Cygnum Capital.
The financing follows a $100 million investment Spiro secured in October 2025.The proceeds will fund rollout of battery-swapping infrastructure in existing and new markets, and scaling of in-house technology including automated battery swaps, fast-charging systems, and renewable energy integration, according to Kaushik Burman, Spiro CEO.
Gagan Gupta, founder, said the capital will accelerate efforts to deliver electric mobility across the continent.
Laurène Aigrain, Managing Director of Africa Go Green Fund, said Spiro has built a platform delivering impact across multiple African markets.
Raghav Sachdeva, Chief Investment Officer at Nithio, described Spiro as one of the largest and fastest-growing players in Africa’s e-mobility sector.
Spiro operates in Kenya, Uganda, Rwanda, Nigeria, Benin, and Togo, with pilot programs in Cameroon and Tanzania, according to company information.
The company reports deploying over 80,000 electric bikes, distributing more than 300,000 batteries, completing over 30 million battery swaps, and establishing more than 2,500 swap stations. Spiro claims to have enabled over one billion carbon-free kilometers traveled.
