New Delhi, June 2 -- African electric vehicle firm Spiro has raised $215 million in equity financing to expand its battery-swapping and electric mobility infrastructure across Africa, the company said Monday.

The investment round was backed by institutional investors in Europe and Africa, including Denmark's Impact Fund, underscoring growing interest in Africa's clean transport and energy sectors.

"This past year marked a defining strategic milestone for Spiro," Gagan Gupta, founder of Spiro and chair of Equitane, said in a statement. "Across seven active markets, our deployment of 100,000 electric vehicles and 2,500 smart-swap stations has turned sustainable mobility into an affordable, everyday reality."

Gupta said the company's next...