Driving Sustainable Transport: Spiro Receives Boost for Rwanda and Uganda Expansion

Kenyan electric mobility startup Spiro has secured an additional $18 million in debt funding from the Africa Go Green Fund (AGG), managed by Cygnum Capital. This investment will fuel expansion into both Uganda and Rwanda, building on Spiro’s existing presence as Africa’s largest electric two-wheel transportation company.

Spiro operates a rapidly growing network of battery-swapping stations across multiple African countries, including Kenya, Uganda, Nigeria, Rwanda, Togo, Cameroon, and Benin. With over 135,000 electric motorcycles already deployed, the company has facilitated more than 50 million battery swaps, enabling over 1 billion kilometers of low-carbon travel.

The additional financing builds on an earlier debt facility where AGG initially committed $18 million alongside Nithio’s $7 million investment. This new commitment doubles AGG’s total stake in Spiro to $36 million, reflecting confidence in the company’s growth trajectory.

Key Highlights of the Investment:

  • Funding Purpose: To deploy more electric motorcycles and expand battery-swapping infrastructure in Uganda and Rwanda
  • Impact: Further reduces reliance on expensive fossil fuel imports while providing affordable transportation solutions
  • Network Expansion: Includes launching “mega” battery-swap stations for enhanced rider convenience
  • Environmental Benefit: Contributes to cutting transport emissions across East Africa

“Africa Go Green Fund’s decision to double their commitment is a clear endorsement of our progress and the potential of electric mobility in African markets,” said Gagan Gupta, founder of Spiro. “We’ve proven that market-adapted solutions can scale rapidly while delivering both financial returns and positive impact.”

Laurène Aigrain, managing director of Africa Go Green Fund, added: “Spiro is addressing critical challenges by making electric mobility more accessible and affordable. We’re proud to deepen our partnership as they expand across East Africa, creating a cleaner, smarter transportation system for riders.”