What is Switchee?
Founded in 2015 by INSEAD business school alumni, Switchee addresses the challenges faced by social landlords in managing their properties and reducing energy consumption for residents. The company's core offering is a smart thermostat specifically designed for the rental market, coupled with a sophisticated dashboard that provides landlords with real-time data and actionable insights. This technology not only helps in optimizing energy usage and lowering fuel bills for tenants but also offers landlords enhanced control and oversight of their housing stock, promoting better property management and resident well-being.
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 Clearly So Limited and Mustard Seed Ventures
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 backs mission-driven companies across various sectors, including climate tech and financial technology, providing long-term capital and guidance.
AXA IM ALTS - Real Assets
AXA IM Alts specializes in alternative investments, including real estate equity and infrastructure, aiming to generate long-term value for institutional investors with a commitment to sustainability.
Mustard Seed Ventures
Mustard Seed Ventures is an impact-focused investment firm that supports companies aiming to create positive social and environmental change alongside financial returns.
What's next for Switchee?
With the recent major strategic investment, Switchee is poised for accelerated growth and market expansion. The substantial capital infusion is expected to fuel further product development, enhance its technological capabilities, and broaden its reach within the social housing sector. This strategic backing will likely enable Switchee to scale its operations, strengthen its market position, and continue its trajectory of innovation in the smart home and energy efficiency space, reinforcing its commitment to creating more sustainable and cost-effective living environments for residents in rented accommodations.
See full Switchee company page
