Spiro raises $215M as it eyes Ethiopia and DRC expansion

3 June 2026

On Techpoint Digest, we discuss Spiro raising $215 million to accelerate Africa's EV revolution, your face in a viral video, and why Canal+ debuted on the JSE following MultiChoice's acquisition.

Spiro raises $215M as it eyes Ethiopia and DRC expansion

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Victoria from Techpoint here,

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Spiro lands $215M to accelerate Africa’s EV revolution

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Spiro lands $215M to accelerate Africa’s EV revolution

Spiro

Africa’s electric vehicle race just got a major boost. On June 1, electric mobility company Spiro announced it had raised a massive $215 million in fresh funding from Impact Fund Denmark and Equitane, marking one of the largest single investments ever secured by an EV infrastructure company on the continent. The new capital will help the company expand its battery-swapping network, grow manufacturing operations, improve its technology, and enter new markets, including Ethiopia and the Democratic Republic of Congo.

The funding comes as Spiro continues an aggressive expansion streak. The company already operates in seven African countries, such as Kenya, Rwanda, Uganda, Togo, Benin, Nigeria, and Cameroon, and has deployed more than 100,000 electric motorcycles alongside over 2,500 battery-swapping stations. In less than a year, Spiro has raised over $365 million across three separate funding rounds, making it one of Africa’s most heavily funded clean mobility startups. Interestingly, the news comes a week after the company announced it had acquired UK-based engineering and design firm Coexlion.

But Spiro is building more than just electric motorcycles. The company says its solar-powered, IoT-enabled battery-swapping stations are part of a broader energy ecosystem. It also operates battery recycling facilities and is developing second-life battery storage solutions for renewable energy projects. With more than 150 engineers and dozens of patents, the company is betting that technology designed for African roads and energy challenges could eventually be exported to other emerging markets.

The business case appears to be resonating with investors. Spiro says riders can reduce transportation costs by up to 40...