An African electric vehicle (EV) platform, Spiro, said it has secured a $215 million round of investment to accelerate the deployment of its electric mobility and battery-swapping infrastructure across Africa.

Building on the support of long-standing institutional partners such as Fund for Export Development in Africa (FEDA), Spiro’s latest equity round draws global capital from Europe and Africa, thereby confirming growing global confidence in scalable infrastructure-led business models across emerging markets.

A statement by the Head of Corporate Communications, Flora Limukii, said the company had moved past the proof-of-concept phase and stood ready to execute its next chapter of pan-African expansion.

Limukii emphasised that this investment would support the expansion of its battery-swapping network, strengthen its industrial and assembly footprint, accelerate technology development and support the company’s entry into new high-growth African markets.

As Africa’s urban population and mobility needs continue to surge, electric vehicles and battery-swapping ecosystems are rapidly emerging as one of the continent’s most promising infrastructure and energy investment opportunities, the company said.

Reducing dependence on imported fuel, strengthening energy and industrial sovereignty and modernising urban transport systems are becoming strategic priorities across the continent, positioning EV infrastructure as a key pillar of Africa’s economic resilience and industrial development.

Limukii explained that operating a Spiro electric vehicle could reduce daily mobility costs by up to 40 per cent, generating savings of up to $2 per day compared to fossil-fuel motorcycles.

Recent third-party-verified life cycle assessment results for Spiro’s operations in Kenya further highlight the environmental impact potential of EV infrastructure deployment across African cities.

According to the company, Spiro’s electric bikes deliver a 72 per cent reduction in climate impact compared to fossil-fuel motorcycles, equivalent to approximately 19 tons of CO₂ emissions avoided over a vehicle’s lifespan.

The study also identified an 80 per cent reduction in ozone-depleting potential and a 20 per cent reduction in particulate matter emissions, underscoring the role electric mobility can play in improving urban air quality and reducing public health risks in rapidly growing cities.

The Founder of Spiro, Gagan Gupta, said: “This past year marked a defining strategic milestone for Spiro. Across seven active markets, our deployment of 100,000 electric vehicles and 2,500 smart-swap stations has turned sustainable mobility into an affordable, everyday reality.

“Spiro has become a major driver of local industrialisation, value creation and manufacturing across African markets with 6,000 sustainable direct and indirect jobs.”