What is Switchee?
Founded in 2015 by INSEAD business school alumni, Switchee developed a smart thermostat specifically designed for social landlords. The system provides real-time data and actionable insights through a dedicated dashboard, aiming to improve the management of rental properties and reduce fuel bills for tenants. The company's innovative approach to connected technology addresses key challenges in the social housing sector, positioning it as a critical player in the PropTech and energy efficiency markets.
How much funding has Switchee raised?
Switchee has raised a total of $9.6M across 5 funding rounds:
Other Financing Round
$90K
Angel/Seed
$785K
Angel/Seed
$585K
Series A
$1.7M
Other Financing Round
$6.4M
Other Financing Round (2015): $90K with participation from Seedrs and Pi Labs
Angel/Seed (2016): $785K led by Mustard Seed Ventures and ClearlySo
Angel/Seed (2017): $585K supported by Mustard Seed Ventures and Clearly So Limited
Series A (2018): $1.7M featuring AU Capital, Contrarian Ventures, and Fair by Design Fund
Other Financing Round (2024): $6.4M backed by Octopus Ventures and AXA IM ALTS - Real Assets
Key Investors in Switchee
Octopus Ventures
Octopus Ventures is a founder-focused venture capital firm that invests in mission-driven companies across various sectors, including software and climate technology, offering long-term capital and guidance.
AXA IM ALTS - Real Assets
AXA IM Alts specializes in alternative investments, including real estate and infrastructure, aiming to generate sustainable value and competitive returns for institutional investors with a commitment to sustainability.
AU Capital
Au Capital LLP is a financial services firm that provides capital raising and distribution services for businesses and fund managers, with experience across various sectors including renewable energy and property.
What's next for Switchee?
The recent enterprise-level funding indicates Switchee is poised for significant expansion, likely focusing on scaling its operations, enhancing its product offerings, and broadening its market reach. This strategic capital injection will enable the company to further develop its smart home solutions and strengthen its position in the competitive smart building technology landscape. Future growth may involve deeper integration with property management systems and further development of data analytics capabilities to drive energy savings and operational efficiencies for landlords.
See full Switchee company page
