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Spiro Africa Secures $100m Investment, Eyes $1bn Valuation in Clean Mobility Drive

Spiro Africa Secures $100m Investment, Eyes $1bn Valuation in Clean Mobility Drive

P Pan-African electric mobility firm, Spiro Africa, has raised $100 million in new funding, marking a major step toward achieving a $1 billion valuation as it scales up its clean energy operations across the continent.

A key stakeholder in the company, Ayodeji, described the investment as a landmark moment in Africa’s transition to sustainable transportation and inclusive economic growth.

“When I joined Spiro, I knew it was bigger than bikes. It’s about innovation, clean energy, and creating opportunities that move Africa forward,” Ayodeji said.

Operating in Nigeria, Rwanda, Benin, and Kenya, Spiro promotes the adoption of electric motorcycles, a solution aimed at cutting carbon emissions and empowering small-scale transport operators across African cities.

According to Ayodeji, the company’s mission is rooted in uplifting Africa’s informal economy through sustainable innovation.

“This whole business is for the hustlers — the okada riders, the delivery workers, and everyone grinding in the real on-ground economy. They are the heartbeat of this movement,” he added.



He noted that this phase of his career centers on growth, learning, and building impact-driven ventures, emphasizing that African talent and enterprise can compete on a global scale.

Spiro Africa plans to launch new products in December, reinforcing its leadership in clean mobility solutions across Lagos, Kigali, Cotonou, and Nairobi.

Ayodeji also commended Gagan Gupta, co-founder of Spiro Africa, and appreciated the support of FEDA and Afreximbank for their strategic partnership in driving sustainable innovation.

"Africa is moving, and we’re driving the change,” he said.

Source: X | Davido