Spiro Secures Additional USD 18 M Debt To Expand Electric Mobility In Africa

African electric mobility company Spiro has secured an additional USD 18 M in debt from the Africa Go Green Fund (AGG), doubling the fund’s total commitment to the company to USD 36 M.

Founded in 2019 by Gagan Gupta and headquartered in Kigali, Rwanda, Spiro operates an electric motorcycle and battery-swapping network across Africa. The company uses a battery-as-a-service model, allowing riders to swap depleted batteries for charged ones rather than owning the batteries.

Spiro will use the latest financing to expand its electric motorcycle fleets and battery-swapping infrastructure, particularly in Uganda and Rwanda. As of September 2026, the company says it has deployed more than 135,000 electric motorcycles, operates 2,500 battery-swap stations and has completed over 50 million battery swaps across seven countries.