SWTCH Energy, a Toronto, Canada-based company providing electric vehicle (EV) charging solutions for multi-tenant buildings across North America, raised $27.2M in Series B funding.
The round was led by Blue Earth Capital with participation from Alantra’s Energy Transition Fund, Klima, Active Impact Investments and GIGA Investments Corp.
The company intends to use the funds to accelerate charging in multi-tenant buildings, following a tenfold increase in its charging network since its Series A, and advance its innovative EV charging and integrated energy management solutions for real estate customers.
Led by CEO Carter Li, SWTCH Energy provides EV charging solutions for multifamily, commercial, and workplace properties across North America. It leverages technology available to help building owners and operators deploy EV charging by tapping into their existing grid infrastructure.
Its EV charging solutions tackle the main deployment challenges for new and aging multifamily buildings from upfront costs and limited electrical capacity to charger reliability. The company’s energy management solution, SWTCH Control™, provides visibility into building electrical loads and available capacity for EV charging. It allows building owners to install and manage EV chargers with existing electrical infrastructure, future-proofing properties while avoiding costly upgrades.
The company has offices in Brooklyn and Boston.
FinSMEs
18/04/2024