Swtch Energy has raised $27.2 million in a Series B capital raise to equip more multi-residential buildings with more EV charging stations.

The funding round was led by Switzerland’s Blue Earth Capital on behalf of its investment vehicles with participation from U.S.-based Alantra’s energy transition fund, Klima. Additional Series B investors include Vancouver-based Active Impact Investments.

In a news release, Swtch said the new funding will enable the company to accelerate charging-station deployment in multi-tenant buildings, following a tenfold increase a Series A funding round. The new investment will also advance Swtch’s EV charging and integrated energy management solutions for real estate customers.

“With this new capital, we will scale our EV charging solutions to ensure no building, and no driver, is left behind in the EV future,” said Carter Li, the company’s CEO.

Toronto-based Swtch provides EV charging solutions for multi-family, commercial and workplace properties across North America. The company helps building owners and operators enable their EV charging systems to tap into local power grids.

Swtch also has offices in New York and Boston.

Photo: Switch Energy