DUBAI – Spiro has announced the successful completion of its latest funding round of $270 million.
“This milestone follows a newly completed $55 million investment from NewTrails Capital, a prominent growth stage investment fund in China focused on emerging markets with strategic locations in Shanghai, Shenzhen and Nigeria,” Spiro said in a statement on Monday, June 22, 2026.
Expanding Africa’s next-generation mobility and energy ecosystem
This capital injection places Spiro in one of the most heavily supported African e-mobility and energy ecosystems on the continent.
Building on the support of long-standing institutional partners such as FEDA, Spiro's latest equity round also attracts global capital from Europe and Africa, Impact Fund Denmark, Equitan and FEDA, in addition to recent support from Nichio and the Africa Go Green Fund.
“We would like to thank NewTrails Capital for believing in the Spiro model and supporting our unique technology, energy and innovation journey,” said Gagan Gupta, Founder of Spiro and Chairman of Equitane.
“With 100,000 electric vehicles and 2,500 smart swap stations deployed across seven active markets, Spiro has successfully passed the proof-of-concept stage.
“Partnering with the experienced team at NewTrail Capital marks a strong new chapter for Spiro as we prepare for the next step in our expansion across Africa and internationally.”
Yufan Zhang, founding partner of NewTrails Capital, added: “We believe Spiro is driving a profound ‘energy revolution’ across Africa’s mobility use cases.
“This represents not only a vast and imaginative market opportunity, but also the potential to grow into an infrastructure-like business that creates meaningful commercial, social and environmental value.
“In our view, Spiro's core strengths lie in its deeply localized operational capabilities, vertically integrated supply chain, digitally enabled ecosystem, sound unit economics, and strong ability to scale rapidly.”
Mr Chan added: “More importantly, Spiro is systematically integrating vehicles, batteries, energy replenishment, payments and service networks into solutions that are truly tailored to the needs of African users, effectively addressing long-standing structural pain points in the local market.”
“As a Chinese fund committed to investing in Africa's energy transition and green technology, we are also very encouraged to see Chinese supply chains and financing playing an increasingly important role in this process.
“Spiro is still a young company, and everything we do today is just the beginning.
“We continue to play our role as a long-term investor, contributing our resources and experience, and look forward to growing with Spiro and contributing to the acceleration of Africa's new energy transition.”
This partnership will help support Spiro's current manufacturing and supply chain localization efforts on the continent, particularly with Chinese suppliers.
