Spiro raised $215M for electric motorcycles and battery swapping, and says the DRC and Ethiopia are next growth markets, with no launch date yet.
Spiro is planning its next growth phase after closing a $215 million funding round. The electric motorcycle company said it wants to accelerate operations across high-growth African markets, including the Democratic Republic of Congo (DRC) and Ethiopia.
Spiro did not confirm a commercial launch in the DRC. There is no announced timeline, pilot programme, operating model, or named local partner.
The round includes institutional backers. Impact Fund Denmark contributed about $40 million. Equitane also participated, but did not disclose its cheque size.
Spiro currently operates in Kenya, Rwanda, Uganda, Nigeria, Cameroon, Benin, and Togo. It has assembly facilities in Kenya, Rwanda, and Uganda, plus a battery recycling plant in Nigeria.
Its model is based on battery swapping, which means riders replace a depleted removable battery with a fully charged one at a swapping station, instead of waiting to charge. Spiro has also said it is working on swapping stations integrated with solar energy, which can help where grid power is unreliable.
The DRC is a large mobility market where electricity access and grid reliability vary widely. That makes battery swapping, and potentially solar-backed charging sites, a practical route for electric motorcycles.
There is also early evidence of demand. A 2024 UNDP feasibility study pointed to Kinshasa as a high-potential city, estimating the capital has over 400,000 motorcycle taxis. It projected that roughly 100 renewable-powered charging stations could support around 500,000 motorcycle taxis by 2050, with potential emissions reductions and economic benefits.
Still, execution will depend on real-world factors such as battery costs, station rollout speed, local transport patterns, and the availability of safe, accessible sites for swapping stations.
Primary Source: news.fundsforngos.org
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