SPIRO, Africa’s leading electric mobility company, has secured an expanded financing commitment from the AfricaGoGreen Fund (AGG), managed by Cygnum Capital, bringing the fund’s total commitment to the electric mobility company to $36 million.
The renewed financing will support SPIRO’s expansion of electric motorcycle deployment across Africa, as well as the development of its battery-swapping infrastructure.
The company said the additional funding will help accelerate the rollout of cleaner and more accessible mobility solutions as it expands its operations across African markets. The financing represents continued backing from AfricaGoGreen Fund and Cygnum Capital for SPIRO’s electric mobility strategy and efforts to develop sustainable transportation infrastructure on the continent.
The investment comes as SPIRO accelerates its next phase of growth following its latest $270 million funding round, which included investment from NewTrails Capital, a Chinese fund. The company is building an integrated electric mobility ecosystem combining electric motorcycles with an extensive battery-swapping network, enabling riders to exchange depleted batteries for fully charged ones in minutes.
SPIRO is Africa’s largest electric mobility company, present in seven countries and operating the continent’s most extensive and fastest-growing network of battery-swapping for electric two-wheel vehicles. With more than 130,000 electric motorcycles, over 2,500 battery-swapping stations, and more than 50 million battery swaps to date, SPIRO has achieved over two billion kilometres of low-carbon travel.
The company’s regional production network and operational assembly facilities in Uganda, Kenya, Nigeria, and Rwanda support its commitment to delivering electric vehicles made in Africa by Africans for Africa and the world. The new financing from the AfricaGoGreen Fund will further strengthen SPIRO’s ability to scale its operations and deepen its impact on sustainable mobility across the continent.
