An electric mobility startup operating in Africa, focusing on battery-swapping models and sustainable transport solutions.
Why Africa’s electric mobility is no longer a venture bet
Startups in the African electric mobility sector have raised over $1.28 billion across 129 deals since 2019. A third of the capital now comes as debt, indicating a shift towards infrastructure financing.
Why Africa’s most-funded EV startup is thinking beyond motorcycles
Spiro announced a $215 million funding round, one of the largest for an African mobility company. The company has raised over $500 million through various funding rounds to support its growth.
African Startups Raise $135 Million in May 2026 as Equity and Debt Funding Balance Out
37 companies in Africa raised around $135 million in funding in May, marking an increase from April's $110 million. The funding round featured an almost even split between equity ($65 million) and debt financing ($68 million).
Spiro Raises $215 Million as Investors Double Down on African EV Infrastructure
Spiro secured $215 million in equity financing, marking a significant investment in Africa's electric transport sector. The funding will be used to expand operations in current markets and enter new countries.
EV Startup Spiro Raises $215 Million to Wire Africa for Electric Mobility
Spiro secured a $215 million equity raise backed by Impact Fund Denmark and Equitane. The company has deployed over 100,000 electric vehicles and 2,500 smart-swap stations across seven markets.
