The Toronto-based startup’s round was led by Switzerland-based Blue Earth Capital, with participation from Alantra’s Energy Transition Fund, Klima, as well as Active Impact Investments and Giga Investments. The company, which specializes in electric-vehicle chargers for multi-unit buildings, plans to use the funds to expand its use of artificial intelligence and integrate more software solutions. (The Logic)
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The Toronto-based startup’s round was led by Switzerland-based Blue Earth Capital, with participation from Alantra’s Energy Transition Fund, Klima, as well as Active Impact Investments and Giga Investments. The company, which specializes in electric-vehicle chargers for multi-unit buildings, plans to use the funds to expand its use of artificial intelligence and integrate more software solutions. (The Logic)
Talking point: Despite pessimism over softening consumer demand, plug-in vehicle registrations in Canada still rose in 2023 compared with 2022, and companies like Swtch remain bullish. “Raising a Series B in 2024 isn’t easy,” CEO Carter Li wrote in a LinkedIn post announcing the deal. “If you have a truly differentiated product, a viable business model and a clear path to profitability, you can still attract strong investment interests,” Li said. In the release, Manuel Alamillo from Alantra’s Energy Transition Fund said the investment was driven in part because “the multi-family housing market in North America is under-served with EV charging infrastructure.”
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