African electric mobility company Spiro announced on June 22, 2026, that it has secured an additional $55 million in equity financing from NewTrails Capital, increasing the total value of its latest funding round to approximately $270 million. The investment is expected to support the company’s continued expansion of electric motorcycles and battery swapping infrastructure across Africa.
According to the company, the new capital will be used to scale production, expand battery swapping stations, strengthen supply chain operations, and accelerate entry into additional African markets. Spiro said the investment aligns with its long term strategy of building sustainable transportation solutions for the continent.
Spiro currently operates electric motorcycle fleets and battery swapping networks in several African countries, offering an alternative to conventional fuel powered motorcycles widely used for commercial transportation. The company’s battery swapping model enables riders to exchange depleted batteries for fully charged ones within minutes, reducing downtime associated with traditional charging.
The latest financing comes as investor interest in Africa’s electric mobility sector continues to grow, driven by increasing fuel costs, urbanization, and demand for cleaner transportation technologies. Electric motorcycles are increasingly viewed as a cost effective solution for commercial riders, particularly in the ride hailing and delivery sectors.
NewTrails Capital’s investment adds to a series of funding rounds that have supported Spiro’s expansion across the continent. The company has continued investing in charging infrastructure, vehicle deployment, and technology development as competition within Africa’s clean mobility industry intensifies.
Industry analysts say infrastructure remains one of the biggest challenges facing electric vehicle adoption in Africa. Companies capable of combining vehicle manufacturing with charging or battery-swapping networks are expected to be better positioned for long term growth.
Africa has emerged as one of the fastest growing markets for two wheeled transportation, with millions of motorcycles used daily for passenger transport, logistics, and commercial deliveries. As governments and private investors increase support for clean energy initiatives, electric mobility companies are attracting greater interest from international investors.
Spiro did not disclose additional financial terms associated with the investment. However, the company said the funding will strengthen its ability to expand operations while advancing the adoption of sustainable transportation solutions across African markets.
The announcement represents another significant investment in Africa’s climate technology sector and highlights growing confidence in businesses developing infrastructure to support the continent’s energy transition.