Spiro is a pan-African electric mobility company that has its headquarters in Nairobi and was founded in 2019.

Gagan Gupta is the founder and owner of the Spiro company through the partnership of the Equitane Group.

Spiro was formerly known as “MAuto.”

Kaushik Burman is the Chief Executive Officer (CEO) of Equitane Group.

The company is also backed up by other investors including the Africa Export-Import Bank (Afreximbank) and Africa Development Bank (FEDA).

Spiro majorly focuses on electric motorbike services and battery swapping infrastructure.

The company is international and therefore it has opened its operations across other African countries, including Benin, Togo, Rwanda, Nigeria, and Uganda.

Spiro was found as a better alternative to reduce fuel dependency in African countries.

Details About the Product

According to the company, the motorbikes of Spiro have a range of 75 to 90 km, which usually depends on the usage and the model type.

Batteries of electric bikes take about four hours to be fully charged.

Additionally, riders have a chance to access swap stations due to Spiro’s battery swapping model, fast and slow chargers, and also home charging options.

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History and Funding

It was first founded in 2019.

This year, the company received Ksh 10.99 billion as part of funding from Equitane Group, which was formerly referred to as Africa Transformation and Industrialization Fund (ATIF).

Following significant developments, Spiro launched its operations in Togo and Benin in 2022.

In May 2023, Spiro received an investment of Ksh 8.14 billion from Societe Generale to fund the company’s expansion in Kenya na Uganda, where the budget was intended to add 15,700 bikes in the two countries.

In addition, it extended to Kenya, Rwanda, Uganda, and Nigeria the same year.

In Uganda, Spiro got a boost from the Ugandan government as it intended to do away with boda bodas and replace them with electric motorbikes; therefore, they partnered with the government.

The African Export-Import Bank (Afreximbank) released KSh 6.50 billion in 2024.

In May 2024, Spiro secured a place in the Time 100 Most Influential Companies.

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Business Model and Strategy

Spiro announced that it had completed 5 million batteries in its 175 swap stations in December 2023 and also launched twin assembly plants in Benin and Togo.

Asset financing company Watu Credit and Spiro Kenya in January 2024 announced a partnership to enhance access to financing of electric bikes in Kenya.

In May 2024, Spiro announced a fleet of 14,000 electric two-wheelers and 9 million batteries in five countries.

The company also partnered with the Max platform that democratizes access to vehicle ownership in the same year.

Meanwhile, in September 2024, Spiro launched a manufacturing centre on Old Mombasa Road.

Spiro declared circulation of 18,000 bikes, 11 million battery swaps, and 428 million CO2 that are free kilometers driven in February 2025.

By 2030, the company aims to have distributed above 2 million bikes across Africa.

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Spiro electric bike for illustration purposes. PHOTO/pixels