Spiro has added another $55 million in equity funding from NewTrails Capital, taking its latest round to $270 million. The new investment comes about three weeks after the African electric motorcycle and battery-swapping company announced a $215 million raise.
This puts the total disclosed funding at around $557 million; Spiro is strengthening its place as one of Africa’s best-funded electric mobility companies. The raise also shows that investors are backing the battery-swapping infrastructure, not only motorcycles.
Spiro’s $55m Raise Deepens Investor Confidence in African Electric Mobility
The new funds from NewTrails Capital bring Spiro’s latest round to $270 million after it had already raised $215 million earlier this month.
Raising this amount of funding within such a short period points to strong investor confidence in Spiro’s growth prospects. Although the company has not confirmed a $1 billion valuation, its rapid expansion and capital backing suggest it is positioning itself for larger-scale growth.
Spiro will use the additional capital to build more battery swap stations, increase its number of electric bikes and expand into more African markets.
