Kenya-based mobility startup Spiro raises $100m funding round

October 23, 2025

Kenya-based mobility startup Spiro raises $100m funding round

Kenya-based mobility startup Spiro raises $100m in funding to boost its mission of providing affordable and accessible mobility to the masses while transforming Africa’s clean energy and urban transport sectors.

Spiro is Africa’s largest electric mobility company, operating the continent’s most extensive and fastest growing network of battery-swapping for electric two-wheel vehicles.

With more than 60,000 electric motorcycles, over 1,200 battery swapping stations and more than 26 million battery swaps to date, Spiro has achieved over 800 million kilometres of low-carbon emissions travel, the company is substituting expensive imported fossil fuel- based transportation with affordable, accessible and sustainable solutions.

Through its expanding regional production network and operational assembling facilities in Uganda, Kenya, Nigeria and Rwanda, Spiro is committed to delivering electric vehicles made in Africa, by Africans, for Africa.

To support that goal, the company has now raised US$100 million in funding, which includes US$75million from The Fund for Export Development in Africa (FEDA), the development impact investment arm of African Export-Import Bank (Afreximbank).

Spiro will use the funding to expand its industry-leading battery-swapping infrastructure across existing and new markets while further strengthening its technology platform.

Spiro expects to surpass 100,000 deployed vehicles by the end of 2025, reinforcing its leadership in Africa and positioning the company among the world’s foremost battery-swapping providers.

“Africa is at an inflection point in personal mobility. Riders are rapidly shifting from internal combustion motorcycles to Spiro’s more affordable and accessible battery-swapping ecosystem and motorcycles. For the first time, riders are embracing sustainable transportation because it performs better, costs less to operate, and offers greater profitability than traditional gas- powered vehicles,” said Kaushik Burman, CEO of Spiro.

“This landmark US$100 million investment underscores our shared vision to build a pan-African battery-swapping infrastructure that empowers riders with reliable, sustainable energy and mobility across the continent.

Professor Benedict Oramah, president of Afreximbank, and chairman of the boards of directors of Afreximbank and FEDA, said he was delighted to partner with Spiro on this “transformative initiative”.

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