Transport : Spiro raises USD 100M to deploy 100,000 electric motorcycles

Dubai-based electric mobility company Spiro has raised USD 100M in a funding round led by the African Export-Import Bank (Afreximbank) Export Development Fund (FEDA). The investment will support the rollout of 100,000 electric motorcycles across Africa by the end of 2025. Active in Benin, Togo, Kenya, Nigeria, Rwanda, and Uganda, Spiro operates 60,000 e-bikes and 1,500 battery swap stations, cutting fuel costs by up to 30% per kilometer.