We’re excited to share that Vammo, the leading electric two-wheeler platform in Latin America, has raised a $45 million Series B led by Ecosystem Integrity Fund, with participation from Construct, Monashees, 2150, Maniv, Qualcomm Ventures, and Endeavor Catalyst. This new round will help Vammo rapidly grow its battery-swapping network, expand manufacturing and R&D in Manaus, and become even more critical to the people of Sao Paulo and beyond.
For us, this is more than a follow-on. Construct led Vammo’s Seed round three years ago, when the company was just an idea: that electrifying Latin America’s motorcycle fleet could transform not only emissions but livelihoods. There was no fleet, no battery-swapping stations, and no app, just the founders, Jack Sarvary and Billy Blaustein, and a crystal-clear vision for how to build a full-stack mobility system from the ground up. That conviction has since turned into one of the most impressive operations we’ve seen in mobility globally.
Fast forward to today: Vammo operates over 5,000 electric motorcycles and 150 battery-swapping stations across São Paulo, forming the backbone of a dense, data-driven energy network. Its subscription and financing model gives customers access to both vehicles and battery-swapping infrastructure in a single, predictable monthly plan — delivering roughly 30% lower total cost of ownership compared to gasoline alternatives. Each swap station adds uptime, lowers cost per kilometer, and strengthens the overall network flywheel. In partnership with platforms like Uber, 99, Rappi, and iFood, Vammo has grown 10× year-over-year and maintains a lengthy waiting list of new users.
The scale of the opportunity is enormous. The economy of São Paulo and much of Latin America is powered by motoboys, the motorcycle couriers who deliver meals, medicine, and commerce. There are more than 500,000 motoboys in São Paulo alone, forming the backboneof the urban economy. For decades, these riders have shouldered the costs of fuel, maintenance, and downtime. Vammo’s model changes that equation by bundling vehicles, energy, and service into one affordable platform, not only offering riders a cleaner, quieter and more reliable way, but meaningful financial savings to put towards their families and themselves.
From day one, the team’s execution has been impeccable. They’ve paired rapid growth with operating discipline, maintaining strong gross margins and near-perfect utilization even as they scale. But what truly differentiates Vammo is its maniacal focus on the customer. The founders and team spend time on the ground with riders, learning how small changes such as faster swaps, safer designs, and smarter routing can improve both income generation and quality of life. Vammo has built the business by understanding what will actually improve their users lives, and this has resulted in strong demand and high NPS.
We’re doubling down on Vammo because we believe this combination of relentless operational rigor, innovative software and hardware, system-level design, and real-world impact represents the future of mobility and electrification infrastructure. Every rider who transitions to electric takes another step toward cleaner, and better form of urban logistics.
At Construct, we back the builders of the next economy’s infrastructure — teams who merge product innovation with deep local understanding. Vammo exemplifies that ethos. What began as a concept on paper has become the platform electrifying the backbone of Latin America’s economy, and we’re proud to continue our partnership with Jack, Billy, and the Vammo team.
