Spiro, Africa's electric vehicle (EV) and clean energy infrastructure platform, has finalised a $55 million investment from NewTrails Capital, bringing its latest funding round to a close at $270 million.
NewTrails Capital is a Chinese growth-stage investment fund focused on emerging markets, with operations in Shanghai, Shenzhen and Nigeria.
This capital injection, the company said, positions Spiro among Africa's most heavily funded e-mobility and energy infrastructure companies.
In a statement, the company said that, building on support from long-standing institutional partners including FEDA, its latest equity round attracted capital from Europe and Africa through Impact Fund Denmark, Equitane and FEDA, in addition to recent backing from Nithio and the Africa Go Green Fund.
Spiro recently raised $215 million from investors including Impact Fund Denmark and Equitane.
According to the company, the investment will accelerate the expansion of its battery-swapping network, industrial footprint and next-generation EV infrastructure across high-growth African markets.
The funding round closes as African economies seek to reduce dependence on imported fuel, strengthen energy and industrial sovereignty, and modernise urban transport systems.
The company said the investment demonstrates growing international confidence in scalable EV infrastructure platforms and in Spiro's expansion plans.
Already operating across seven African markets, Spiro said it will continue expanding its battery-swapping network, manufacturing footprint and electric mobility infrastructure across the continent.
Commenting on the investment, Gagan Gupta, founder of Spiro and chairman of Equitane, said: "Partnering with NewTrails Capital's deeply experienced team marks a powerful new chapter for Spiro as we prepare for the next steps of our pan-African and international expansion."
Yufan Zhang, founding partner at NewTrails Capital, added: "In our view, Spiro's core strengths lie in its deeply localised operating capabilities, vertically integrated supply chain, digitally enabled ecosystem, sound unit economics, and strong ability to scale rapidly.
"More importantly, Spiro has systematically integrated vehicles, batteries, energy replenishment, payments and service networks into a solution that is truly tailored to the needs of African users, effectively addressing long-standing structural pain points in the local market."
Zhang continued: "As a Chinese fund committed to investing in Africa's energy transition and green technology, we are encouraged to see Chinese supply chains and financing playing an increasingly important role in this process.
"Spiro is still a young company, and everything today is only the beginning. We look forward to continuing to fulfil our role as a long-term investor, contributing our resources and experience, growing together with Spiro, and helping accelerate Africa's energy transition."
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