Swobbee: Six Million Euros in Support from EIT and Investor

The Berlin-based GreenTech startup Swobbee has received an investment of over six million euros, which will be used to scale and internationalize its concept of battery swapping stations. New to the team as an investor and strategic partner is EIT InnoEnergy. The innovation investor is supported by the European Institute of Innovation and Technology (EIT), a body of the European Union, and contributes nearly three million euros to the total financing. The existing investor is contributing a similar amount. With the fresh capital, the provider plans to further develop its battery platform and massively expand its network of battery swapping stations for electric micromobility in Germany and its European neighboring countries.

Founded in 2017, the company is the world's first provider of battery swapping stations with a multimodal approach for the booming micromobility sector. These enable the quick exchange and charging of batteries from various electric micromobility vehicles independent of manufacturers, which are increasingly being used in cities worldwide for both passenger transport and last-mile logistics, as the company advertises. They see this as an important component of a sustainable urban transport infrastructure and part of a growth market whose potential, according to a market analysis by Porsche Consulting, will be around 30 billion euros in Europe and North America alone by 2030. Previous partners include micromobility provider Tier Mobility, Europe's leading parking management company Apcoa, and leading logistics companies Hermes and DPD, which are testing the battery swapping stations in pilot projects.

"We are very pleased to have such a renowned, globally operating partner like EIT InnoEnergy by our side. This is not only a confirmation that we are on the right track but also the starting point to bring more investors on board as we begin scaling," explains Thomas Duscha, CEO and co-founder of Swobbee.