Africa's Electric Motorcycle Firm Spiro Closes $270M Round, With China's NewTrails Investing $55M

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Spiro, which operates electric motorcycles and battery-swap networks across Africa, closed a funding round totaling $270 million on June 22, including a $55 million investment from Shanghai/Shenzhen-based NewTrails Capital. Total funding raised to date has reached about $557 million. The company operates more than 100,000 EVs and 2,500 battery-swap stations across seven countries including Kenya and Rwanda. The funds will go toward expanding the swap network and strengthening local production.