Spiro has announced the successful close of a $270 million funding round aimed at accelerating the continent’s transition to sustainable mobility.
The milestone includes a newly finalised $55 million investment from NewTrails Capital, a Chinese growth-stage investment fund focused on emerging markets, with operations in Shanghai, Shenzhen and Nigeria.
The latest capital injection positions Spiro among the most heavily backed players in Africa’s e-mobility and clean energy ecosystem, strengthening its ability to scale next-generation mobility solutions across the continent.
The funding round builds on support from long-standing institutional partners, including FEDA, and draws additional global capital from Europe and Africa. Other investors include Impact Fund Denmark, Equitane, Nithio and the Africa Go Green Fund.
Speaking on the development, Gagan Gupta, founder of Spiro and chairman of Equitane, said the investment marks a significant step in the company’s growth journey.
“I would like to thank NewTrails Capital for believing in Spiro’s model and supporting our unique technology, energy and innovation journey. Having deployed over 100,000 electric vehicles and 2,500 smart battery-swap stations across seven markets, Spiro has moved beyond the proof-of-concept stage,” Gupta said.
He added that the partnership with NewTrails Capital opens a new chapter as the company prepares for expansion across Africa and into international markets.
NewTrails Capital founding partner Yufan Zhang said the firm sees Spiro as a key driver of Africa’s emerging energy transition.
“We believe Spiro is driving a profound energy revolution across mobility use cases in Africa. This represents not only a significant market opportunity, but also the potential to build infrastructure that delivers commercial, social and environmental value,” Zhang said.
He noted that Spiro’s strengths lie in its localised operating model, vertically integrated supply chain, digital ecosystem and ability to scale rapidly.
Zhang added that the company’s approach—integrating vehicles, batteries, energy infrastructure, payments and service networks—offers a solution tailored to African markets, addressing longstanding structural challenges.
The partnership is also expected to strengthen Spiro’s manufacturing and supply chain localisation efforts on the continent, particularly through collaboration with Chinese suppliers.
With fresh capital and strategic backing, Spiro is positioning itself at the centre of Africa’s transition to cleaner, more sustainable transport systems.
