SWTCH Raises $13 Million to Provide Equitable Access to Electric Vehicle Charging Infrastructure in Communities Across North America

ORIGINAL ARTICLE, businesswire.com, April 27, 2022

TORONTO–(BUSINESS WIRE)–SWTCH Energy Inc. has closed $13 million USD in new financing to expand its electric vehicle (EV) charging solutions to multi-family buildings across North America, with an emphasis on serving the transition to electrified transportation for market-rate and low-to-moderate income (LMI) communities. The new capital includes a $10 million USD Series A round led by the venture capital arm of Aligned Climate Capital and a $3 million USD credit facility from Silicon Valley Bank. Additional Series A investors include Landmark Management Inc.Elemental EnergyIBI GroupActive Impact Investments, and Pacific Reach.

SWTCH provides EV charging and energy management solutions that address the unique challenges of EV ownership in multi-family buildings of all kinds. SWTCH’s unique approach to EV charging and energy management lowers the financial and technological barriers to EV ownership by employing cost-effective, software-based energy management solutions to multi-family buildings where electrical infrastructure hardware upgrades can be prohibitively expensive. Additionally, SWTCH’s charging-as-a-service model reduces the financial barriers to providing equitable access to EV charging infrastructure, which eliminates the upfront costs and reduces the operational costs of EV charging management by incorporating clean fuel standard credits, charging infrastructure incentives, and ancillary service market participation as part of the core offering.

To continue reading CLICK HERE

Share this article
Facebook
Twitter
LinkedIn
WhatsApp
Email
View All Categories

Featured iF Clients

Whether you are looking for support in product development, validation or just networking, our role is to help make services more visible to you and to reduce the amount of time it takes to activate these supports.

Ready to accelerate your business growth?

Founders Fast Track is 6 week mentorship program that provides your startup with access to industry expertise, resources, networking opportunities, and skills to help you secure investment capital.

Applications are open until April 13, 2025. 

Synapse Life Science Pitch Competition March 26, 2025 from 4:00pm - 8:00pm EDT

Get tickets for the 2025 Synapse Competition!

Innovation Factory’s Synapse Competition is Ontario’s premier life science pitch competition, dedicated to fostering innovation in the life science sector.

Why you should attend:

  • Meet the finalists at the 12th annual Synapse Competition showcase!
  • Discover emerging life science innovations
  • Network with industry leaders and Ontario’s thriving life science ecosystem.

March 26, 2025 | 4:00pm – 8:00pm EDT