Swytch raises £800k in funding led by Startup Funding Club to scale its eBike technology
Startup Funding Club led the £800k round with participation from multiple syndicates and funds to target the European market.
Swytch produces eBike conversion kits that allow users to turn standard bicycles into electric power-assisted bikes. The lightweight system features a small motor wheel and a removable power bag.
Swytch has secured £800k in funding led by Startup Funding Club to expand its eBike conversion kit business. The round drew participation from various private investors, the SFC Angel Fund, the SFC EIS Growth Fund, London Co-Investment Fund, Angels Den, and Green Angel Syndicate. The company is now setting its sights on the wider European market.
From the founder
"Swytch is a completely unique product that is the result of four years of engineering innovation. We worked closely with our crowdfunding customers to develop a technology that is fit for purpose for both novice riders as well as cycling enthusiasts. This latest investment allows us to continue to innovate and develop new technologies. We see the Swytch eBike kit as the first in a really exciting pipeline of new product developments that we will be releasing over the next few years, totally transforming the way people think of transport and how to get from A to B."
Oliver Montague
Founder and CEO at Swytch
Investor perspective
"We were ultimately impressed by the technology and the high quality team around Oliver Montague. There is a gap in the market for an affordable, easy to use eBike kit, and Swytch’s technology and its speed of innovation is the perfect match for SFC’s wider portfolio to invest in the future of urban mobility. We are very pleased to close this £800k investment round alongside our great co-investment partners."
Raphael Fässler
Investment Manager, Startup Funding Club
Use of funds
- 01Continue product development
- 02Expand into international markets
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