Spiro raises $215 million to put more Africans on electric motorbikes
The battery-swap company already has 100,000 e-bikes on African roads and plans to enter Malawi, Mali and Ethiopia.
Key points
- Electric motorcycle company Spiro raised $215 million in equity in June 2026, led by Impact Fund Denmark and Equitane.
- Spiro has deployed about 100,000 electric motorcycles and 2,500 battery-swapping stations across seven African markets, with plants in Kenya, Rwanda and Uganda.
- It plans to expand manufacturing and enter Malawi, Mali and Ethiopia; it says riders can cut daily costs by up to 40%.
Motorcycle taxis, known as boda bodas, okadas or zémidjans, are the backbone of urban transport in much of Africa. Spiro wants them to be electric. In June 2026, the company raised $215 million in new equity to grow faster.
The deal
The round was led by Impact Fund Denmark and Equitane. Bloomberg reported that it brings Spiro close to a $1 billion valuation, or "unicorn" status.
How Spiro works
Instead of waiting for a battery to charge, riders swap an empty battery for a full one at a Spiro station in minutes. That avoids the high upfront cost of a battery and the problem of unreliable grid power.
- About 100,000 electric motorcycles deployed across seven African markets.
- About 2,500 battery-swapping stations, and more than 30 million swaps completed.
- Assembly plants in Kenya, Rwanda and Uganda, and a battery recycling facility in Nigeria.
What's next
Spiro plans to use the money to expand its swapping network and manufacturing, and to enter Malawi, Mali and Ethiopia. It says riders can cut their daily transport costs by up to 40%, saving as much as $2 a day compared with petrol motorbikes.
Why it matters
Cheaper running costs mean more income for riders, while electric bikes cut fuel imports and air pollution in crowded cities. Read more about Africa's move to electric vehicles.
Sources
Spotted an error? Read our corrections policy or tell us.
