Light Electric Vehicle Charging System Company Swiftmile Secures $5 Million

By Noah Long ● July 14, 2020
  • Swiftmile — developers of light electric vehicle (LEV) charging systems — announced that it has closed $5 million in Series A funding

Swiftmile — developers of light electric vehicle (LEV) charging systems — announced that it has closed $5 million in Series A funding. This round of funding — which was led by San Francisco-based Thayer Ventures — also included participation from Alumni Ventures Group and Verizon Ventures. And Mark Farrell, partner at Thayer Ventures, now joins the Swiftmile Board of Directors.

Swiftmile — a pioneer in the field of light electric vehicle charging —has built upon this success by partnering with both cities and micro-mobility operators to provide sustainable and in-field parking and charging for electric bikes, scooters, and e-mopeds.

The Swiftmile stations are remotely monitored and controlled. And they can be powered by its smart connection to the grid, swappable batteries, solar power, or through a combination of multiple input power sources.

With the addition of digital signage on its stations, Swiftmile takes advantage of ad-sponsorships to deploy much-needed infrastructure cost-effectively for its customers.

Key Quotes:

“I am so proud of our team in reaching this important milestone in our company’s history. We believe now more than ever is the time to invest in sustainable infrastructure. City leaders are eagerly searching for ideas to improve transportation options for their citizens and we are thankful for the role we play in helping to make smart and efficient transportation a reality.”

— Swiftmile CEO Colin Roche

“Swiftmile is delivering the core infrastructure for the future of micromobility. Colin and his team have proven they have the ability to scale Swiftmile globally, which comes at a critical time when cities across the globe are demanding this kind of smart infrastructure given the negative impact COVID-19 has had on ridership in public transportation.”

— Mark Farrell, Partner at Thayer Ventures