
Swytch Technology
Swytch develops products that are designed to converts standard bicycles into electric bicycles.
Date | Investors | Amount | Round |
---|---|---|---|
- | investor investor investor investor | €0.0 | round |
N/A | €0.0 | round | |
investor investor investor investor | €0.0 | round | |
investor | €0.0 | round | |
investor investor investor | €0.0 Valuation: €0.0 5.3x EV/Revenue | round | |
* | N/A | £3.4m Valuation: £35.0m 5.3x EV/Revenue | Early VC |
Total Funding | 000k |
USD | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 | 0000 |
% growth | - | 79 % | 290 % | 133 % | 2 % |
EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 |
Profit | 0000 | 0000 | 0000 | 0000 | 0000 |
EV | 0000 | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Dealroom estimates
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Swytch Technology, founded in 2017 by Oliver Montague and Dmitro Khroma, is a company focused on making electric transportation more accessible. Montague, with a background in engineering and a passion for cycling, conceived the idea after identifying a gap in the market for a simple, universal e-bike conversion kit. He previously worked at Cambridge Design Partnership and holds a degree in Engineering Design from the University of Bristol. Khroma, the co-founder and CTO, brings extensive electrical and software engineering expertise to the team. Their shared vision was to create a lightweight and affordable solution for converting any bicycle into an electric one.
The company's flagship product is a universal e-bike conversion kit that allows users to electrify their existing bicycles. The kit's core components are a compact, high-torque hub motor that replaces the front wheel's hub, and a detachable, pocket-sized battery pack that mounts onto the handlebars. This design sets it apart from many other conversion kits that often involve bulky batteries and complex installation processes. The kit is designed to be lightweight, with some versions weighing as little as 1.5 kg, thereby preserving the original feel and handling of the bicycle. The system provides pedal assistance, where the motor engages to help the rider, with different power levels to choose from. This approach caters to a broad consumer market, from daily commuters seeking an easier journey to recreational cyclists wanting an extra boost.
Swytch Technology operates on a direct-to-consumer business model, primarily selling its kits through its website via a pre-order system. This strategy allows the company to manage production runs efficiently and build anticipation for its product launches. By selling directly, Swytch can maintain a closer relationship with its customers and control the entire user experience. The company has garnered significant attention through successful crowdfunding campaigns on Indiegogo, which have served as both a funding mechanism and a powerful marketing tool to validate demand and build a global customer base. The business serves a global market of cycling enthusiasts and commuters who wish to upgrade their standard bikes to e-bikes without purchasing an entirely new and often expensive electric bicycle.
Keywords: e-bike conversion, electric bicycle, direct-to-consumer, cycling, urban mobility, sustainable transport, pedal-assist, crowdfunding, cleantech, personal transportation