SWFT Secures $10M Seed Funding To Disrupt The E-mobility Space

NEW YORK, Oct. 14, 2021 /PRNewswire/ -- SWFT, the e-mobility company built to change the way people move, today announced securing its first round of funding. SWFT was developed over the past year within On Spec, the company that develops disruptive brands through its unique shared services platform and unparalleled experience in bringing products to market across industries. To date, the company has raised $10M including investments from strategic angel investors Martin Lauber (Managing Partner of 19 York), Mark Joseph (CEO of Mobitas Advisors, formerly CEO of Transdev), David Zwick (Managing Director, RedCap Technologies).

SWFT's entrance into the e-mobility market is led by Co-Founder and CEO David Liniado, who has over thirty years of experience as an entrepreneur and previously served as Vice President, New Ventures and Business Development, for Cox Automotive's Mobility Solutions group. The brand was developed as a response to rapid cultural and behavioral shifts accelerated by the unique combination of a global pandemic, a climate crisis, and the move to electric mobility. SWFT is bringing a suite of mobility solutions to consumers starting with three new e-bikes and an e-moped launched as part of global retailer Best Buy's electric transportation push.

"I am thrilled to support the SWFT team on their path of impressive growth," says Mark Joseph, CEO of Mobitas Advisors. "We know that consumers are increasingly seeking out alternative modes of transportation, like e-bikes, as quick and efficient ways to travel, and there's no more experienced or equipped team to enter the market than this one."

Built with a mission to empower consumers and commercial partners to use sustainable, efficient, and safe modes of transportation, SWFT offers sleek and eco-conscious alternatives to cars and public transportation. SWFT plans include the launch of a complete line of fully integrated personal electric vehicles ranging from e-motorcycles to low speed vehicles, starting in early 2022. SWFT will offer solutions to both consumers and commercial partners for delivery of goods and services.

"Personal e-mobility is a generational shift and we are proud to introduce SWFT to the market. We created SWFT not only to change how people move, but to change how they feel about movement." says David Liniado, Co-Founder and CEO of SWFT. "Over the course of the last eighteen months, we built and developed our products alongside some of the best minds in the business. Not only are our products safe and enjoyable, but we're thrilled about the community we're fostering around empowering movement and staying active."

The SWFT team has been in the business of mobility for over a decade and has collectively delivered $2B in product to consumers. The company has also made several key new hires in recent months including Kate Panek, Chief Financial Officer, who spent nearly a decade at General Electric, Michelle Wainwright, General Manager, who previously led global brand strategy for Fortune 500 companies, Maggie Sause, Creative Director, who served as Creative Director at VaynerMedia, Jo Tran, VP of Production Operations, with fifteen years of experience in product development and supply chain innovation, and Jessie Buck, VP of People and Communications, who previously developed a membership program for women in Fortune 500 companies and focuses on employee development.

For more information, please visit https://rideswft.com/.  

About SWFT
Founded in 2020 in Manhattan, SWFT provides solutions for short-distance personal e-mobility through bicycles, mopeds, and more. SWFT was built by a team of designers, engineers and product development specialists at On Spec who love bringing innovative ideas to life. By partnering exclusively with the factory where SWFT is made, they're able to handle each part of the production process with care -- from tires to footpads to LED lights -- ensuring customer satisfaction at every turn.

About On Spec
Founded in March 2020 in New York, On Spec develops and accelerates innovative consumer products and larger than life brands. On Spec's portfolio of brands include smart air purifier Happi, e-mobility companies SWFT and Alva.

SOURCE SWFT