Switchee Raises £5m in Funding for Social Housing Technology
Switchee, a London-based social housing technology provider, recently announced that they have raised £5m in funding. The backers included Octopus Ventures and existing investor AXA IM Alts. This news comes after Switchee secured a £6.5 million investment financing in May 2023, led by AXA IM Alts. The company, led by Tom Robins, Chief Executive Officer, and Adam Fudakowski, Founder and Executive Director, has been providing high-tech devices to over 130 social housing providers to help maintain warm, safe, and sustainable homes for residents.
Switchee's devices have been instrumental in identifying and preventing mould, lowering heating bills, and improving communications between residents and providers through a two-way platform.
With the new investment, the company aims to further accelerate its growth and continue serving housing providers with advancements that will be made in its Trusted Installer Network. The funding will enable Switchee to enhance its capabilities and reach more households, ultimately making a positive impact on the social housing sector.
By leveraging technology, Switchee is transforming the way social housing providers manage their properties and interact with residents. With the support of investors like Octopus Ventures and AXA IM Alts, Switchee is well-positioned to expand its reach and make a difference in the lives of those living in social housing. The innovative solutions offered by Switchee are not only improving the quality of housing but also creating a more sustainable and efficient environment for residents. The future looks promising for Switchee as they continue to push boundaries and revolutionize the social housing industry.
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