LAGOS – African electric mobility platform Spiro has closed its latest funding round at $270 million. The closure follows a newly secured $55 million equity investment from Chinese growth-stage fund NewTrails Capital, spiro said in a statement on Monday.
The fresh capital injection pushes Spiro’s total disclosed funding past $550 million. This milestone solidifies the company’s position as the most heavily backed electric vehicle and clean energy infrastructure platform on the continent.
Spiro will use the funds to expand its automated battery-swapping network and manufacturing footprint. The expansion targets high-growth markets, including Nigeria, Kenya, Rwanda, Uganda, Togo, Benin, and Cameroon.
The investment from NewTrails Capital, which operates in Shanghai, Shenzhen, and Lagos, aims to deepen Spiro’s supply chain localization. It directly links the pan-African startup with Chinese component and battery manufacturers.
“We believe Spiro is driving a profound “energy revolution” across mobility use cases in Africa. This represents not only a vast and highly imaginative market opportunity, but also the potential to grow into an infrastructure-like business that creates meaningful commercial, social, and environmental value.” Yufan Zhang, Founding Partner of NewTrails Capital, said.
The transaction finalizes a broader capital raise that recently drew $215 million from international backers. Those investors include Impact Fund Denmark, Equitane, and Afreximbank’s Fund for Export Development in Africa.
The capital inflow coincides with major leadership changes at the firm. Spiro recently appointed Anant Badjatya, the former chief executive of Indofast Energy, as its new Group Chief Executive Officer.
Operationally, the startup has moved entirely past its initial proof-of-concept phase. Spiro has already deployed over 100,000 electric motorcycles and established 2,500 smart battery-swap stations across its active territories.
The company’s localized infrastructure has logged over 30 million battery swaps to date. E-mobility platforms are increasingly vital as African economies prioritize reducing their heavy reliance on expensive, imported fossil fuels.
