Electric motorcycle company Spiro has raised $55 million (Sh7 billion) in fresh funding to accelerate its local manufacturing plans and expand its battery-swapping network across Africa.
The capital injection comes from Chinese investment fund NewTrails Capital. It follows the e-mobility company’s $215 million (Sh27.8 billion) funding earlier this month, bringing the total equity round to $270 million (Sh35 billion), one of the largest recent capital injections into the region’s e-mobility sector.
