• SWTCH

  Participated · Series A · Apr 2022

  SWTCH Energy builds and supplies EV charging units and management software (SWTCH Cortex) aimed at multifamily buildings and commercial properties. The company is pursuing North American expansion, targeting larger commercial opportunities and faster project deployments. Recent financing is being used to boost inventory levels and provide working capital to accelerate rollouts. SWTCH is also investing in AI-driven network monitoring for its charging solutions. The company was selected to supply EV charging infrastructure and software to the city of Richmond, Virginia, demonstrating commercial traction in municipal contracts. Its current financial position includes a new credit facility plus a recent strategic investment to support growth and technology development. Swtch Energy provides EV charging solutions and an advanced charging product called Swtch Cortex, targeting multifamily, commercial, and workplace properties. The company leverages existing grid infrastructure and a partnership network to help building owners and operators deploy charging in multi-tenant buildings. It plans to use recent funding to accelerate AI-driven network monitoring, load management, and continued development of Swtch Cortex. Swtch was recently selected by Greystar to manage 2,500 charging stations across 136 Greystar properties in Washington state. The company is led by CEO Carter Li and operates from Toronto, Canada. Its Series B has been expanded to $31.2M following the latest investment. SWTCH Energy builds EV charging solutions for multi-tenant and multifamily buildings across North America. Its core offering combines turnkey EV charging hardware with integrated energy management software, notably SWTCH Control, which provides visibility into building electrical loads and lets owners install and manage up to ten times more chargers on existing infrastructure. The company targets deployment challenges including upfront costs, limited electrical capacity, and charger reliability for new and aging multifamily properties. SWTCH has grown its charging network tenfold since its Series A and is headquartered in Toronto with offices in Brooklyn and Boston. With new capital, SWTCH plans to accelerate deployments in multi-tenant buildings, advance SWTCH Control using machine learning and AI, and expand integrations with industry software to improve experiences for property managers and tenants. The company is positioning itself to meet growing demand as EV sales rise and building codes increasingly require properties to be EV-ready. SWTCH delivers EV charging hardware, software-based energy management, and a charging-as-a-service offering tailored to multi-family buildings, lowering financial and technical barriers to charging where hardware upgrades can be costly. The company integrates clean fuel standard credits, charging infrastructure incentives, and ancillary service market participation into its core offering to reduce operational costs and eliminate upfront capital requirements for property owners. SWTCH reports charging systems installed in 200 multi-family buildings (about 75% of its stations deployed in multi-family locations and roughly 50% of sites classified as low-to-moderate income). By the end of 2022 the company expects to manage 5,000 charging ports in over 900 locations across all 50 U.S. states and 10 Canadian provinces, with over half of those ports in low-to-moderate income multi-family buildings. Headquartered in Toronto with offices in Brooklyn and Boston, SWTCH is participating in the Clean Fight accelerator and is working with partners to deploy chargers in LMI communities. The company aims to scale deployments across North America to accelerate equitable EV adoption in market-rate and low-to-moderate income communities. SWTCH Energy develops open standards-based EV charging hardware and software combined with distributed energy resource aggregation to improve grid efficiency. Its platform includes scheduling and reservation systems to optimize charger usage and revenue, vision-AI enforcement to prevent loitering in EV spaces, and battery energy storage integration with load management to minimize infrastructure upgrade costs. The company targets urban multi-family settings and sells to real estate developers, building operators, and property managers. SWTCH plans to expand its product and service offerings to metropolitan areas across North America following the financing. As of this round the company has raised C$3.5M in equity, grants, and non-dilutive funding. SWTCH was founded in 2016 and is a MaRS Cleantech company and graduate of CSI Climate Solutions, Communitech Fierce Founders, and the DMZ Sales Accelerator.

No current team members are available.