Swiftmile, a San Carlos, Calif.-based developer of light electric vehicle (LEV) charging systems, closed a $5m Series A financing.
The round was led by San Francisco-based Thayer Ventures, with participation from Alumni Ventures Group and Verizon Ventures. In conjuntion with the funding, Mark Farrell, partner at Thayer Ventures, now joins the Swiftmile Board of Directors.
Led by Colin Roche, CEO, Swiftmile provides a parking and charging systems for scooters and ebikes. By partnering with both cities and micromobility operators, the company provides in-field parking and charging for electric bikes, scooters, and e-mopeds. The stations are remotely monitored and controlled, and 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 infrastructure for its customers.