EV firm Spiro gets huge climate boost to advance innovation

Pan-African electric mobility company Spiro has been selected for the 2025 Regional Platforms for Climate Projects (RPCP) Pipeline, a global initiative aimed at mobilizing capital for climate-friendly projects in developing countries.

The selection, under the leadership of the High-Level Climate Champions, positions Spiro among top-tier ventures advancing sustainable and low-carbon futures across emerging markets.

Founded in 2022, Spiro operates a vertically integrated electric two-wheeler platform in eight African countries, including Kenya, Nigeria, Uganda, and Rwanda. Its business spans e-bike sales, battery-swapping services, after-sales maintenance, and data analytics.

The company says it has so far deployed over 35,000 electric motorbikes and conducted more than 20 million battery swaps—equivalent to 500 million kilometres of emissions-free travel. This has reportedly prevented roughly 30,000 tons of carbon emissions.

Beyond environmental gains, Spiro says it has created more than 1,000 jobs in its manufacturing hubs, with women accounting for over 40% of the workforce. The company also runs the Spiro Academy to equip local talent with skills for medium- and high-level employment.

Financially, Spiro reportedly recorded USD 23 million (approx. Ksh.2.9 billion) in revenue last year and projects a tenfold jump to USD 200 million (approx. Ksh.25 billion) in 2025.

It is currently seeking USD 50 million (approx. Ksh.6.5 billion) in Series A funding to expand its market footprint and boost innovation. The company has already raised USD 120 million (approx. Ksh.15 billion) in equity and USD 23 million (approx. Ksh.2.9 billion) in debt financing.

By joining the RPCP Pipeline, Spiro will gain visibility at global climate events, feature in publications by the Climate Champions Team and partners, and plug into a broad network of global stakeholders pushing for climate action.