SWTCH raises US$13m to EV charging infrastructure

SWTCH Energy Inc. has raised $13 million in new funding to expand its electric vehicle (EV) charging solutions to multi-family buildings across North America, with a focus on assisting market-rate and low-to-moderate-income (LMI) communities in their transition to electrified mobility.

A $10 million USD Series A investment headed by Aligned Climate Capital’s venture capital arm and a $3 million USD credit facility from Silicon Valley Bank are among the new funds. Landmark Management Inc., Elemental Energy, IBI Group, Active Impact Investments, and Pacific Reach are among the other Series A investors.

SWTCH provides EV charging and energy management solutions for multi-family buildings of all types, addressing the unique difficulties of EV ownership.

SWTCH’s unique approach to EV charging and energy management lowers the financial and technological barriers to EV ownership by bringing cost-effective, software-based energy management solutions to multi-family buildings where upgrading electrical infrastructure hardware can be prohibitively expensive.