Leoparda Electric raises $8.5M to spread the adoption of electric two-wheelers in LatAm 

Leoparda-Electric

Leoparda Electric, a startup based in São Paulo, has closed an $8.5M seed round co-led by Monashees and Construct Capital.

The startup will launch on December a network of battery swapping stations for electric two-wheelers. Although Latin America is the second largest two-wheeler market after Southeast Asia, electrification has lagged behind. 

The cofounder and CEO of Leoparda, Jack Sarvary, headed during 6 years the operations, product and fast delivery at Rappi. The other cofounder is Billy Blaustein, who previously led Tesla’s EMEA Used Car Business.

Besides offering a battery swapping network, Leoparda aims to provide a subscription package including unlimited battery swaps, an electric motorcycle or seated scooter, maintenance, and insurance. According to Sarvary, this would cost about 50% of what couriers typically spend on vehicle expenses:

“Electricity is 10-to-1 cheaper than gas. The problem is there’s no infrastructure to support that. So if we build the infrastructure, we enable them to access these huge potential savings.”

Leoparda’s first battery swapping stations will be located in concentrated areas where most couriers operate.

In the future, the startup wants to develop its own swappable battery to reduce costs by optimizing them for a longer lifetime.

Read more on TechCrunch.

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