Founded in São Paulo in 2022, Vammo offers subscription plans to electric motorcycle rentals, including maintenance, insurance and a shared network of swappable batteries. Since its launch, Vammo has become the region's leading battery-swapping platform for electric motorcycles, running more than 150 swap stations for over 5,000 vehicles in São Paulo.
Vammo will use the funds to expand its capacity, strengthen its presence in São Paulo and enter new markets in Brazil and Latin America. The round was led by San Francisco-based venture capital firm Ecosystem Integrity Fund, with participation from Qualcomm Ventures, 2150, Monashees, Construct Capital, Maniv Mobility, and Endeavor Catalyst.
The Carey Olsen team advising on the transaction comprised partner Trevor McCabe and senior associate Evan Stitt.
Trevor McCabe commented: "Vammo is well and truly paving the way for battery-swapping electric motorcycles in Latin America, having achieved tenfold year-on-year growth since it was founded in 2022. We are proud to have advised on its successful US$45 million funding round, which signals strong investor confidence in Vammo's sustainable mobility model and the growing market appetite for ESG-driven initiatives that deliver both commercial growth and lasting community impact."