Spiro Mobility has secured a Ksh.900 million (US$7 million) facility from Nithio’s FAIR Fund in its push to expand electric mobility and clean energy in Africa.
The funding will support the rollout of additional electric motorcycles and the expansion of Spiro’s battery-swapping infrastructure in both existing and new markets.
“At Nithio, we invest in solutions that accelerate climate resilience and economic inclusion at scale. Electric mobility is one of the most compelling opportunities to decarbonize Africa’s transport sector while delivering immediate cost savings and productivity gains for millions of people,” the company said in a statement.
Spiro was founded in 2022 and has rapidly emerged as a market leader in Africa’s electric motorbikes.
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It currently operates more than 80,000 electric motorcycles, supported by approximately 2,500 battery swap stations and four operational assembly facilities across seven African markets.
Spiro expects to surpass 100,000 deployed vehicles by the end of 2025 a milestone that would further cement its leadership position in Africa and rank it among the world’s leading battery-swapping providers.
In the last quarter of 2025, Spiro closed a $100 million funding round, the largest investment ever recorded in Africa’s two-wheel electric mobility sector.
The round included US$75 million from the Fund for Export Development in Africa (FEDA), the development impact investment arm of Afreximbank.
Earlier, the company secured more than $180 million from Equitane and Société Générale, signaling sustained investor confidence in Spiro’s long-term growth strategy.
Spiro’s electric motorbikes are powered by swappable batteries, enabling riders to replace depleted batteries within minutes at designated swap stations.
