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OnePlanetCapital invests in eBike conversion company Swytch

OnePlanetCapital has invested in eco-friendly e-Bike conversion kit company Swytch through its flagship Environmental EIS Fund.

Swytch has raised a total of GBP3.1 million at a GBP35 million pre money valuation.
 
The OnePlanetCapital EIS fund focuses on companies and projects that will genuinely benefit the environmental prospects of the UK and the wider planet, supporting the emerging green economy. Investing into the eBike company Swytch will support the overall negative impact in busy urban environments that are being challenged.
 
Swytch comes is creating a product that is easy to set up and can be used on 99 per cent of bikes world-wide, making the transition from standard bike use to an eBike simple and indefinite. The company has been able to save more than 17,000 tonnes of CO2 over the past two years with 500-plus car miles avoided annually per customer. Swytch has reached over 700,000 existing waitlist subscribers and 35,000 existing customers, respectively gaining 15,700 sales in 2021.

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