Swiftmile raises $5 million round led by Thayer Ventures for micromobility charging stations

Swiftmile, the startup that makes and deploys charging stations for electric bikes and scooters in cities, has raised a $5 million round led by Thayer Ventures with participation from Verizon Ventures, Alumni Ventures Groups and WSGR. This round brings Swiftmile’s total funding to $11 million.

“What’s happening today is streets are being totally reimagined,” Swiftmile co-founder and CEO Colin Roche told TechCrunch . “If you talk to any city planner, the old rules are being thrown out and new ones are being written. Public transportation use has plummeted because people are scared of [COVID-19] transmission in closed environments. We went from being a nice to have to a need to have.”

Swiftmile works with cities to deploy charging hubs and charges the operators by the minute, but not to exceed a certain amount, depending on the market. Initially, the docking system will be open to all operators in order to show them how it works and how beneficial it can be. After a certain period of time, Swiftmile will only charge its customers’ scooters.

With the new funding, Swiftmile plans to deploy its systems in three additional cities in the U.S., as well as work on expanding into Europe. Currently, Swiftmile has 150 smart-charging stations deployed throughout the U.S.