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Vammo , the São Paulo - based inauguration that wants to scale electric bike battery swapping in Latin America , has raised a $ 30 million Series A round of golf to capture the growth in popularity of motorcycles across the region .
The startup , formerlyLeoparda Electric , volunteer an e - bike subscription that comes with unlimited access to battery swapping stations . Vammo says it has already found product market fit and a profitable business model , with customers clocking up 4 million kilometers drive and more than 150,000 barrage fire substitution in the 10 calendar month since launching .
The fairness and debt one shot , led by Monashees with participation from climate technical school fund 2150 and Maniv Mobility , will help Vammo scale across Brazil in the short terminal figure . By 2025 , Vammo aims to grow its client pedestal 50 - fold and expand to other Romance American commonwealth , starting with Colombia and Mexico .
Vammo ’s modeling is interchangeable toGogoro ’s , the Taiwanese company that has build up andscaleda battery swop meshing in Taiwan and is grow to a handful of other countries inAsiaand theMiddle East .
As with Gogoro , Vammo ’s proprietary battery hardware and package is available across a range of mannikin from dissimilar brands like Niu and Super Soco . The startup also construct its own swapping cabinet , and presently has eight battery swapping stations located throughout the São Paulo that are operated by a Vammo employee . Vammo destine to deploy around 250 self - service swapping cabinets by 2025 , where customer can switch out dead batteries for charged 1 in less than two minutes . The company discover its locker becoming the touchstone throughout LatAm .
Jack Sarvary , Vammo ’s CEO and co - founder , told TechCrunch the inauguration has seen “ insatiable demand . ”
“ We ca n’t fetch bikes into market fast enough , ” he say .
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Vammo say most of the startup ’s early adopter are delivery professionals who drive more than 150 km per twenty-four hours , but commuters who forge in São Paulo ’s major financial centers are also beginning to sign on as customers . Riders are seeing 20 % to 40 % savings from ride around gas pedal - powered motorcycles , says Sarvary .
“ We believe that , here in Brazil , this revolution in galvanic mobility will not occur from the top down , as happened in rich countries in Europe and the United States , with brand like Tesla , ” said Billy Blaustein , Vammo ’s chief operating officeholder , in a statement . “ Here , it ’s bike , not cars , that will get the transition to electric car and transform the culture of mobility . galvanic car are still too expensive for the bulk of the universe , while our proposition proffer a gimcrack result that can worry both millionaire and the depressed - income class . ”
Vammo ’s Series A brings its total public funding up to $ 38.5 million , after its seed turn raised inSeptember 2022 . The fund will also be invest into R&D to stay on build up Vammo ’s battery applied science , vehicle modifications and iterations on its cabinets .
The startup place to set up a factory in Brazil ’s tax - free zone of Manaus to tack together motorcycle , cabinet and shelling to keep manufacturing local and aid turn Brazil into “ a hub of initiation and technology for the galvanic vehicle market ” and lead the passage to electric mobility in Latin America .
“ Brazil ’s vigor ground substance is one of the most renewable in the world , with truly sustainable vigour generation , ” tell Blaustein . “ In countries like this , we desperately need to electrify our fleet . ”
