Spiro Raises $270 Million to Scale African Electric Mobility

A $55 million injection from NewTrails Capital has pushed Spiro’s total funding to $270 million, signaling a shift from pilot programs to full-scale deployment. The company currently operates over 100,000 electric vehicles and 2,500 battery-swapping stations across seven African markets, aiming to cement its dominance in the continent's clean energy sector.

Editorial·June 22, 2026·reads: 3,155

Spiro Raises $270 Million to Scale African Electric Mobility

The partnership with the Chinese growth-stage firm provides more than just capital; it offers the supply chain expertise necessary to bolster Spiro’s local manufacturing ambitions. By integrating vehicle fleets, digital payment systems, and battery infrastructure, Spiro has bypassed traditional hurdles that previously hindered electric vehicle adoption in the region. Founder Gagan Gupta noted that the business model has moved past the experimental phase, with the new funding facilitating a broader expansion strategy.

NewTrails Capital identified Spiro’s localized ecosystem as a primary driver for the investment, viewing the company as a foundational platform for African energy infrastructure. As the company scales, it intends to lean into these international ties to reduce production costs and increase local capacity. This strategy aligns with rising urban demand for cleaner transport, positioning the firm to manage both commercial logistics and consumer mobility across its expanding network.