EV startup Swytchd has raised $553,000 in a seed round led by Keiretsu Forum, a network of angel investors. Let’s Venture, Venture Catalyst, and Beej Network, among others, also participated in the round.
The Bengaluru-based firm, Swytchd said it will use the funds to expand operations and marketing and hire more employees. The capital will also help in expanding the fleet size.
Started in 2021 by Sameer Arif, Swytchd is an electric vehicle subscription platform. “Our vision is to hand-hold the transition to electric vehicles for customers by reducing upfront costs, providing flexibility vs. the current EMI model, and making vehicle ownership, trouble-free. All the benefits, none of the hassle,” the company said in a post on LinkedIn.
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