Spiro closes $270M round as Africa's largest EV raise
Spiro has closed a $270 million funding round backed by Chinese investment, making it the largest electric vehicle raise in African history. The capital will fund Spiro's EV and battery-swap network across the continent.
Spiro's $270M: China just bought a stake in how Africa moves
The $55 million from NewTrails Capital is the smallest slice of this round — but it's the most telling detail.
NewTrails is explicit: its strategy runs alongside China's Belt and Road investment programme, and its stated goal is to deepen Chinese supply chains inside African markets. When Spiro now talks about 'manufacturing localisation with Chinese suppliers', that's not just cost efficiency. It's a structural tie.
The battery-swap model is genuinely good for riders — cheaper than petrol, no overnight charging needed. But the company that owns the batteries also owns the network. Add Chinese capital and supply-chain integration at this depth, and the question isn't whether Spiro succeeds. It's who controls the infrastructure when it does.
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- Chinese investment powers $270m Spiro funding round · african.business · T2