Key facts
- Chinese investor NewTrails Capital will invest $55 million in Spiro.
- Spiro is an African electric mobility startup.
- The investment will boost Spiro's valuation to nearly $1 billion.
- This brings Spiro's latest funding round to $270 million.
Chinese investor NewTrails Capital plans to invest $55 million into Spiro, an African electric mobility startup. This capital infusion is expected to elevate Spiro's valuation to nearly $1 billion, bringing its total latest funding round to $270 million and positioning the company for potential unicorn status. The investment underscores growing Chinese interest in African technology and green energy sectors. Spiro focuses on providing electric vehicles and associated services to promote sustainable transportation across the continent.