Swytchd, an EV startup, has raised $553,000 in a seed round led by Keiretsu Forum, a network of angel investors.
Several other investors, including Let’s Venture, Venture Catalyst, and Beej Network, participated in the round. The Bengaluru-based startup announced it would use the funds to hire employees and expand operations and marketing. The expansion of the fleet will benefit from the funding as well.
Swytchd, an electric vehicle subscription platform, was founded in 2021 by Sameer Arif.
“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.