What Spironet does

Spiro (operating as Spironet) is Africa's largest electric two-wheeler operator, founded in 2022 by Gagan Gupta and headquartered under Spiro Mobility Holdco DMCC in Dubai, with operational roots dating to 2020 in Togo. The company designs, locally assembles, and operates a fleet of electric motorcycles (EKON 450M1, EKON 450M2, Commando, Alpha+, and the Davido Collectible) for moto-taxi drivers and individual riders across 8 African markets: Benin, Togo, Rwanda, Kenya, Uganda, Nigeria, Cameroon, and Tanzania (pilot), with planned expansion into the DRC and Ethiopia. As of mid-2026, Spiro has deployed more than 100,000 electric motorcycles, operates over 2,500 smart battery-swap stations, and has facilitated more than 30 million battery swaps — creating the densest battery-swap network on the continent and capturing 16% electric motorcycle market share in Kenya.

The company runs a vertically integrated platform combining local assembly (4 assembly plants in Kenya, Uganda, Rwanda, and Nigeria, plus a battery recycling facility in Nigeria and a planned battery cell factory with Chinese manufacturers), a proprietary technology stack (Spiro IoT Hub with end-to-end encryption and 1000Hz data capture; Spiro Maps for routing and 20M+ business listings; CredTrack for asset management with ML-driven default prediction; automated battery-swap and fast-charging systems; and a patented second-life battery storage solution), and an AI-powered Smart Factory in Kenya. R&D is anchored by a Global Technology and Engineering Center in Pune, India, with 150+ engineers and 30+ proprietary patents, complemented by the May 2026 acquisition of Coexlion (28 engineers across India, UK, and Kenya) and the establishment of Spiro's first African R&D center in Kenya. The company holds ISO/IEC 27001:2022 certification and is Great Place to Work certified in 6 countries.

Spiro's revenue model combines one-time electric-motorcycle hardware sales (distributed via country sales offices, dealers, and asset-financing partners including Mogo and Standard Bank), recurring Battery-as-a-Service subscription revenue (~€1.77 per charge yielding 70-100 km of range, per Kenya pricing), after-sales services and spare parts, and emerging data monetization via CredTrack licensing to financiers. Go-to-market blends direct sales through country offices, a Franchise-Owned Franchise-Operated (FOFO) model for swap-station deployment, asset-financing partnerships with local banks and cooperatives for moto-taxi driver leasing with progressive ownership, and enterprise-level engagement with national governments on e-mobility policy. Marketing is anchored by a brand-ambassador partnership with Afrobeats artist Davido and earned media across Forbes, TechCabal, and CleanTechnica. The company has raised approximately $557M in disclosed funding through equity and debt rounds, reaching a $350M valuation in October 2025, and is led by Group CEO Anant Badjatya (appointed June 2026, formerly CEO of Indofast Energy's 1,800-station battery-swap network in India).

Name

Spironet

Legal name

Spiro Mobility Holdco DMCC

Website

https://spironet.com

Company type

Private

Founded year

2022

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Spironet (Spiro) is Africa's largest electric two-wheeler operator, deploying locally assembled electric motorcycles and the continent's largest battery-swap network across 8 African markets. It serves moto-taxi drivers and individual riders via a vertically integrated platform combining local assembly, proprietary IoT/AI technology, and asset-financing partnerships with banks and cooperatives.

Ownership category

akta.pro rank

Product category

Electric Two-Wheeler Mobility

NAICS

Motorcycle, Bicycle, and Parts Manufacturing (336991), Battery Manufacturing (33591)

SIC

Motorcycles, Bicycles & Parts (3751)

akta.pro primary industry

Electric Motorcycles & Electric Scooters Manufacturing (IMACAEAB)

Keywords

• Electric motorcycles
• Battery swap network
• Electric two-wheelers
• Battery-as-a-service
• EV manufacturing Africa

Headquarters

HQ city

Cotonou

HQ country

Benin

Offices13 records

Markets served

GTM type

B2C

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Supply Chain, Infrastructure, Personnel, Operations, Marketing or Sales

Revenue model

1. Electric Bike Sales: Electric bike sales through distribution partners and financiers (asset financing partnerships with local banks, cooperatives, and Mogo). One-time hardware sale bundled with battery subscription. Spiro sold 6,000+ electric motorbikes in Benin and 6,000+ in Togo in early years; over 22,000 in seven countries reported in earlier disclosures; 1,300+ in Kenya and Rwanda at launch.
2. Battery-as-a-Service Subscriptions: Recurring subscription revenue from riders who exchange depleted batteries for charged ones at Spiro's automated and manned swap stations. 2,500+ swap stations across eight countries; 30M+ swaps completed; 300,000+ batteries circulated. Pricing reportedly ~€1.77 per charge (70-100 km range) based on independent reporting in Kenya.
3. After-Sales Services: After-sales services including spare parts and maintenance, delivered through service centers and partner networks. FAQ confirms Spiro offers maintenance services, access to swapping stations, and assistance via service centres.
4. Data Monetization: Data monetization via licensing and analytics. Spiro's CredTrack and IoT platform collect vehicle, battery, swap station, telematics and customer behavior data that can be licensed to financiers and other partners. Spiro Maps also supports business listings and discoverability for third-party businesses.
5. Leasing of Electric Bikes: Spiro offers flexible leasing options for electric bikes, including to moto-taxi drivers (boda-boda) who cannot afford outright purchase; leasing is structured via local asset financiers and progressive ownership pathways.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels7 records

Core offering

Spiro designs, locally assembles, and sells electric motorcycles (EKON 450M1, EKON 450M2, Commando, Alpha+, Davido Collectible) for African riders, supported by Africa's largest battery-swap network (2,500+ stations across 8 countries) operating on a Battery-as-a-Service subscription. The offering combines vertical hardware integration with a proprietary IoT/AI software stack (Spiro IoT, Spiro Maps, CredTrack) that enables asset financing partners to underwrite and monitor leased fleets while riders exchange depleted batteries in seconds.

Differentiator

Problem solved

Functional benefit

Brands

• Ekon: Electric motorcycle model line (e.g., Ekon 450M1) — Spiro's signature electric two-wheeler product line with battery-swapping compatibility.
• Commando
• Davido Collectible
• Alpha+
• CredTrack
• Spiro IoT
• Spiro Maps

Products and services

• EKON 450M1 Spiro's flagship urban electric motorcycle combining comfort and speed (Power: 4.5 kW peak 9 kW; Speed under 85 km/hr; Range under 80 km; Ground Clearance ~180 mm; Kerb Weight 105 kg), designed for African road conditions and integrated with Spiro's battery-swapping ecosystem.
• EKON 450M2 New-generation EKON electric motorbike model sold under Spiro's Drive Electric product line, compatible with the Spiro battery-swapping network across Africa.
• Commando Electric motorcycle model offered under Spiro's Drive Electric product line for African riders.
• Alpha+ by Davido Electric motorbike co-developed with Afrobeats superstar Davido as part of Spiro's 2025 brand-ambassador partnership, launched at Africa CEO Forum 2025.
• Davido Collectible Limited-edition electric motorbike co-developed with Afrobeats superstar Davido as part of Spiro's flagship 2025 celebrity endorsement partnership.
• Battery-as-a-Service subscription Recurring subscription service where riders exchange depleted batteries for fully charged ones at Spiro's automated and manned swap stations across Africa, with reported pricing of approximately €1.77 per charge yielding 70-100 km of range in Kenya.
• Electric motorcycle leasing Flexible monthly leasing of Spiro electric motorcycles to moto-taxi drivers (boda-boda) structured via local banks, cooperatives, and asset financiers such as Mogo, with progressive ownership pathways to enable riders without capital to acquire bikes.
• After-sales services and spare parts After-sales maintenance, spare parts, and rider assistance delivered through Spiro's service centres and partner networks across Africa.
• CredTrack asset management platform Real-time asset management platform licensed to banks, cooperatives, and asset financiers for tracking, locating, and immobilizing financed Spiro vehicles; uses AI/ML models for default prediction, risk profiling, customer segmentation by ARPU, and violations monitoring to improve collection and repossession rates.

Quantifiable outcome

• Reduces daily mobility costs for riders by up to 40% vs fossil-fuel motorcycles
• +9 more outcomes

Named customers2 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability10 records

Feature8 records

Partnerships

Ten partnerships are on record, tiered flagship, core and minor.

• Chinese Manufacturers (battery cell factory collaboration)flagshipOEM/ Whitelabel/ Licensing Partner · 2 June 2026Spiro is collaborating with Chinese manufacturers to establish a battery cell factory in Africa; supported by Transsion/NewTrails investment for supply chain localisation with Chinese suppliers.
• Coexlion (now Spiro subsidiary)flagshipStrategic or Co-development Partner · 27 May 2026Spiro acquired Coexlion, an expert motorcycle engineering and design firm with team of 28 engineers based in Bangalore (India), Coventry (UK), and Nairobi (Kenya). Coexlion has contributed to 25+ motorcycle programs globally. Acquisition strengthens Spiro's product development, engineering, and localization capabilities and supports the establishment of Spiro's first African R&D center in Kenya.
• Entrepreneurial Solutions Partners (ESP)coreStrategic or Co-development Partner · 14 May 2026Signed MoU to launch the Women in E-Mobility initiative starting in Rwanda. ESP will lead programme design, entrepreneurship development, training, coaching, and implementation support; Spiro will contribute through its electric mobility infrastructure, battery-swapping ecosystem, operational expertise, and financing capabilities. ESP is a pan-African consulting firm founded in 2011 with offices in Kigali, Abidjan, Nairobi and Dakar.
• ZerocaminorStrategic or Co-development Partner · 27 October 2025Partnered to boost electric mobility in Kenya and Nigeria, linking clean transport with credible climate finance to drive transparent, sustainable, low-carbon growth across Africa.
• Mount Kigali University (MKU)minorStrategic or Co-development Partner · 22 August 2025MoU signed to accelerate broad adoption of sustainable two-wheel mobility in Rwanda. Spiro provides electric motorcycles and a battery-swapping station on MKU's Kigali campus; partnership includes student internships, employment, subsidized e-motorcycles, joint research, knowledge products, and innovation initiatives in EV design, battery optimization, and sustainable materials.
• Ace Green RecyclingcoreStrategic or Co-development Partner · 28 January 2025Spiro selected Ace Green Recycling as its exclusive global recycling partner to strengthen sustainable operations and battery circularity across Africa. Supports Spiro's ESG and sustainability roadmap.
• Davido (Afrobeats artist)flagshipGTM or Marketing Partner · 7 January 2025Strategic partnership with Afrobeats superstar Davido as brand ambassador for 2025; co-developed limited-edition Davido Collectible and Alpha+ electric motorbikes launched at Africa CEO Forum 2025 in Abidjan. Spiro's flagship celebrity endorsement to drive adoption among African youth.
• Technical University of Kenya, Fleming Technical Institute, India UniversitycoreImplementation/ SI/ Consulting PartnerSpiro Academy created in partnership with these academic institutions to provide high-quality training in EV technologies and entrepreneurship in Africa; three key certifications offered to students and professionals.
• SEPHIS Foundation (Shero Programme)minorStrategic or Co-development PartnerSpiro signed MoU between Spiro Academy and SEPHIS Foundation under the Shero Programme to support women entrepreneurs across Africa, strengthening collaboration and accelerating financial inclusion and business growth in the e-mobility sector.
• AWS (Amazon Web Services)coreTechnology or IntegrationAWS is Spiro's cloud service provider; provides cloud infrastructure for the Spiro IoT platform, data storage, analytics, and processing supporting its IoT devices in vehicles and energy infrastructure.

Scale indicators17 records

Recent moves10 records

Expansion highlights8 records

Broad incumbents

• Ola Electric: Ola Electric is India's largest electric two-wheeler manufacturer, a public company with vertically integrated manufacturing, proprietary battery tech, and own charging/swap infrastructure. Demonstrates a comparable vertical-integration playbook and serves as the scale benchmark for Spiro's ambitions.
• Ather Energy: Ather Energy is a leading Indian premium electric scooter manufacturer with proprietary battery technology, charging infrastructure (Ather Grid), and a connected-vehicle stack. Comparable in product category and tech-led brand positioning, though focused on Indian premium consumer rather than moto-taxi drivers.
• Yadea Group: Yadea Group is the world's largest electric two-wheeler manufacturer, listed in Hong Kong, with extensive global manufacturing and distribution across 60+ countries. Represents the global scale benchmark and a potential long-term competitive entrant into African markets through Chinese OEM channels.
• NIU Technologies: NIU Technologies is a Nasdaq-listed Chinese smart electric scooter company selling connected vehicles in 50+ countries with a focus on premium urban commuters. Comparable product category, smart/connected feature set, and global distribution footprint relevant to Spiro's international ambitions.

Emerging players

• BattRe Electric Mobility: BattRe is an Indian electric two-wheeler company focused on affordable scooters targeting last-mile delivery and ride-hailing drivers in Tier 2/3 cities — a customer segment and use case closely aligned with Spiro's moto-taxi driver focus in African markets.

Direct peers

• Ampersand: Ampersand is a Rwanda-based electric motorcycle company operating a battery-swap network across East Africa (Rwanda, Kenya, expanding to Uganda and South Africa) targeting moto-taxi drivers with a similar battery-as-a-service model. Direct competitor to Spiro in several core African markets with comparable financing partnerships and rider economics.
• MAX (formerly MAX.ng): MAX is a Nigerian mobility platform that has pivoted to electric motorcycles with battery-swap infrastructure in Nigeria and Uganda. Competes head-to-head with Spiro in West Africa on the moto-taxi driver segment with overlapping asset-financing and FOFO-style station models.
• Zembo: Zembo is a Uganda-focused electric motorcycle and battery-swap operator with European backing, active primarily in Kampala and other Ugandan cities. Direct competitor in Uganda where Spiro has pledged a 50,000-motorcycle rollout by June 2026 under the national e-mobility strategy.
• SUN Mobility: SUN Mobility is India's leading battery-swapping service provider for electric two- and three-wheelers, partnered with Indian Oil through the Indofast Energy JV (Spiro's new Group CEO Anant Badjatya previously led Indofast). Closest architectural analog to Spiro's BaaS model with comparable scale in Indian cities.
• Gogoro: Gogoro is the Taiwan-based global pioneer and leader in electric scooter battery-swapping, operating the world's densest swap network with proprietary connected vehicles. Sets the operational benchmark and technology reference for Spiro's battery-swap platform and station economics.

Market position

Strengths5 records

Competitive moat8 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SPIROEVs
• Facebookfacebook.com/profile.php?id=61569534293056
• LinkedInlinkedin.com/company/mautoelectric

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries2 records

Funding overview

Funding rounds9 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Spironet