Spiro Secures $55M Investment from China’s NewTrails, Nears $1B Valuation

Spiro, an electric motorcycle company, has received a $55 million investment from Chinese firm NewTrails Capital, bringing it closer to achieving a billion-dollar valuation. The investment is intended to fuel the expansion of Spiro’s battery-swapping network, manufacturing capabilities, and energy infrastructure in the markets it currently serves. Founded in 2022 and headquartered in Dubai, Spiro has quickly grown into one of Africa’s leading startups, operating over 100,000 electric motorcycles and 2,500 automated swap stations across seven countries including Kenya, Nigeria, and Rwanda. The company’s business model focuses on building a robust infrastructure network that generates consistent revenue, similar to toll…