Africa’s largest electric vehicle company, Spiro, has finalized a massive $270 million equity funding round to expand its green footprint.
The Dubai-based firm secured a milestone $55 million investment from NewTrails Capital, a prominent Chinese growth-stage investment fund.
This fresh capital injection will directly accelerate Spiro’s manufacturing localization and drive expansion into new markets across the continent.
Additional backing poured in from diverse European and African institutional investors, including Impact Fund Denmark, Equitane, and FEDA.
The landmark deal tightly weaves Spiro’s future growth with robust Chinese supply chains and global green energy financing.
NewTrails’ strategic investment closely aligns with China’s trillion-dollar Belt and Road initiative to back emerging market infrastructure.
Spiro currently operates over 100,000 electric motorcycles and manages 2,500 rapid battery-swapping stations across seven African nations.
The company’s unique subscription model allows riders to swap depleted batteries in minutes, slashing daily transport costs by 40%.
By lowering financial barriers, the startup helps African economies cut reliance on expensive imported fuel and modernize urban transport.
With manufacturing plants already running in Kenya, Rwanda, and Uganda, Spiro plans to enter the DR Congo and Ethiopia next.
