Spiro (company)
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| Company type | Private |
|---|---|
| Industry | Electric vehicle |
| Founded | 2022 |
Key people | Kaushik Burman (CEO) |
| Website | www |
Spiro is the largest electric vehicle (EV) company in Africa. It is headquartered in Dubai, United Arab Emirates, and was founded in 2022[1] with backing from Gagan Gupta's Equitane Group.[2] The company specializes in electric motorbikes and battery swapping infrastructure.[3] The company owns the fastest growing battery swapping infrastructure in Africa.[4] As of 2025, Spiro operates across six African countries: Togo, Benin, Rwanda, Kenya, Uganda and Nigeria, with a mission to reduce the continent's fossil fuel dependency.[3][5] The CEO of the company is Kaushik Burman.[6][7]
Founded in 2022, Spiro received initial funding of USD 85 million from Equitane Group, formerly Africa transformation and industrialization fund (ATIF).[8][2]
In May 2023, Spiro received an investment of USD 63 million from Société Générale, to finance its expansion in Kenya and Uganda. The goal of this funding was to add 15,700 additional motos in those countries.[9][10][2] The same year, it extended to Kenya, Rwanda, Uganda, and Nigeria. In Uganda, Spiro partnered with the government to replace its boda bodas - an emission-heavy moto taxi fleet - with electric two-wheelers.[6]
In 2024, Spiro received USD 50 million from African Export-Import Bank (Afreximbank).[3][11][12] In May, Spiro was listed in the Time 100 Most Influential Companies 2024.[6]
In October 2025, the company raised $100mn in a round led by Fund for Export Development in Africa (FEDA), the impact investment arm of Afreximbank. This is the largest funding ever seen in electric vehicle in Africa.[1][13][14][15]