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Live signals: ZENO RAISED USD 25m Series-A (Mar 26); SPIRO RAISED USD 270m (June/July 26); ARC RIDE RAISED USD 23m Series A Equity + USD 10.3m Debt (Sep26); OLA PLANS INR 1.5bn QIP; YULU USD 93m (Aug 26); E3ELECTRIC.AI RAISED USD 10.4m (Jul 26); RIVER RAISED USD120m (Aug 26); SIMPLE ENERGY RAISED USD 13.5m Series B Equity + USD 13.1m Debt (Jun 26); DODAI RAISED USD 13m Series A (May 26); MATTER RAISED USD 25m (Aug 26); BGAUSS RAISED INR 1100m (Aug 26); ROAM TARGETS USD 15-20m; DAT BIKE RAISED USD 22m (Oct 25); OMOWAY Undisclosed (10s of millions of USD)(Jan 26)

Lead Analysis Africa

Spiro Aligns Another Hardware Supplier in Yadea

African battery-swapping giant Spiro has lined up another hardware supplier with Yadea, the world's largest electric two-wheeler manufacturer. In an announcement made three days ago, Spiro said that they will partner with Yadea to deploy more electric motorcycles in Africa and also to develop Africa-specific products.

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NUMBERS
GOGORO Q2 FY 26 REV
70.6m
▲ 7.3% YoY
Ather · Q1 FY 27 rev
₹12,169m
▲ 89% YoY
VMOTO · Q2 FY 26 SALES
6,020 units
▲ 156% YoY
OLA -Q1 FY 27 REV
₹4,550m
▼ 45% YoY
NIU - Q2 FY 26 REV
RMB 1440.4m
▲ 14.7% YoY
INDIA - AUG 26 SALES
183k units
▲ 76% YoY
YADEA - CY 25 SALES
4.82m units
▲ 22.6% YoY

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