Swytch, the handlebar-mounted e-bike system, has raised more investment cash after their initial successful crowdfunding campaign with the total hitting nearly £1 million.
The private investment for Swytch totals £795,000, with its inventor Oliver Montague commenting: “Swytch is a completely unique product that is the result of four years of engineering innovation. We worked closely with our crowdfunding customers to develop a technology that is fit for purpose for both novice riders as well as cycling enthusiasts. This latest investment allows us to continue to innovate and develop new technologies. We see the Swytch e-bike kit as the first in a really exciting pipeline of new product developments that we will be releasing over the next few years, totally transforming the way people think of transport and how to get from A to B.”
Swytch received a largely positive review on eBikeTips last summer (read it above) however some of our readers claimed that the system didn't fit their bike (they claim it fits 99%) and didn't receive their order; however we're hoping with the further cash injection that they will now be able to fulfill the demand. The 250W Swytch kit that has a range of 25 miles retails at £549, while an upgrade with a 50 mile range is £749. Swytch say their more affordable retrofit solution could see younger and the less affluent seeing e-bikes as a viable alternative to cars or public transport, with 70% of electric bikes currently purchased by the over 50's.
