Swft is a direct-to-consumer electric mobility company that launched in February 2020 and developed within NYC-based venture advisory firm On Spec. The company currently sells e-bikes, an e-moped and earlier brought electric hoverboards to market, with models priced at $999 (Fleet and Volt) and $1,399 (Zip) and top speeds around 20 mph and ranges of 32–37 miles. Swft has a commercial relationship to offer three new e-bikes and an e-moped through Best Buy and is seeking additional retail partnerships. Management emphasizes supply-chain and logistics as a competitive edge; the company says it has secured at least 90% of expected product from manufacturing partners in China and expects all stock to reach the U.S. by Christmas. Over the next 18 months Swft plans to expand its light-duty vehicle lineup, including street-legal and off-road e-motorcycles in 2022, a low-speed four-wheel two-seat vehicle next year, and a three-wheel vehicle targeted for early 2023. Swft aims for 10,000 U.S. riders by year-end and is pursuing collaborations, rent-to-own pilots and pop-up stores to drive adoption; leadership says a Series A of $25M–$50M is planned in Q1 next year.

Total raised

$10M

Funding rounds

1

Latest round

Seed

Latest activity

Oct 2021