Spiro secures $215m equity round for pan-African electric mobility push
Investors include Impact Fund Denmark and Equitane.
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Spiro has announced a $215 million investment round to accelerate the deployment of its electric mobility and battery-swapping infrastructure across Africa. Investors include Impact Fund Denmark and Equitane.
The company has operations across seven African markets – Kenya, Rwanda, Uganda, Togo, Benin, Nigeria and Cameroon – and plans to enter new markets such as the Democratic Republic of Congo (DRC) and Ethiopia.
Spiro’s industrial footprint includes manufacturing plants in Kenya, Rwanda and Uganda, alongside a battery recycling facility in Nigeria.
“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. Supported by our global pool of investors, we are entering our next growth chapter to deliver clean, cost-effective energy and transport alternatives to millions of riders across the continent,” stated Gagan Gupta, founder of Spiro and chairman of Equitane.
“We are investing in Spiro and bringing Danish pension capital into one of Africa’s most promising growth markets because we see potential for significant commercial growth in Spiro and electric mobility across Africa, as well as measurable climate impact. That is exactly the type of investment we want to make,” says Lars Bo Bertram, CEO of Impact Fund Denmark.
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