# SwitchMe

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/switchme

- Industry: Financial Services
- Headquarters: Mumbai, India
- Website: www.switchme.in
- Total disclosed funding: $0.4M
- Latest round: Angel (Aug 11, 2016)
- Investors on record: 4

## About

SwitchMe is a digital platform dedicated to simplifying energy management for consumers and businesses by enabling them to compare and select electricity providers based on cost and sustainability.SwitchMe operates as an energy management platform that helps users choose between various electricity providers. The company is headquartered in Mumbai, India. Founded by a team of entrepreneurs with prior experience in technology and energy sectors, SwitchMe has pivoted towards a user-friendly online service model. In December 2021, SwitchMe raised INR 49.26 million in a venture funding round led by 3one 4 Capital Advisors, Elevate Innovation Partners, and Singapore Angel Network, reaching a total raised amount of INR 49.26 million and a current valuation of INR 351.207 million.Switchme.in specializes in innovative digital solutions aimed at streamlining energy management for residential and commercial clients. The company's core product offerings include a comprehensive energy switching platform that enables users to compare various electricity providers, helping them to select the most cost-effective and environmentally friendly options tailored to their needs. Launched in recent years, this platform serves a diverse clientele, including homeowners, businesses, and entities focused on sustainable energy solutions, primarily within urban markets across India. The service addresses critical pain points such as high energy costs and the complications of switching providers, aiming to create a more informed and efficient energy consumption environment. Additionally, Switchme.in provides informative resources and tools that empower end-users to make better energy choices, reinforcing its commitment to enhancing user engagement and satisfaction in energy management.SwitchMe generated revenue of INR 134,241.5 in the most recent year, 2022, with an EBITDA of INR -101,958.6. The company's revenue model is primarily commission-based, where it earns fees from energy providers for successful customer referrals. The platform facilitates direct engagement between itself and individual consumers seeking energy solutions by generating tailored comparisons of available plans based on users' energy usage information.In December 2021, SwitchMe raised INR 49.26 million in funding to enhance its product offerings and expand its market presence. The company plans to launch new upgrades to its energy switching platform, focusing on improving user experience and adding more features that assist consumers in making informed energy choices. Additionally, SwitchMe aims to expand its services into new geographical regions, targeting urban centers across India by 2023. The recent funding will support these initiatives, particularly in technology development and marketing efforts to reach a broader audience.

## Funding rounds

- Angel, Aug 11, 2016, $0.4M — 500 Global, Singapore Angel Network, Elevate Innovation Partners, 3one4Capital Advisors

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Angel
- Singapore Angel Network (https://capitalatlas.ai/funds/singapore-angel-network) — Angel
- Elevate Innovation Partners (https://capitalatlas.ai/funds/elevate-innovation-partners) — Angel
- 3one4Capital Advisors (https://capitalatlas.ai/funds/3one4capital-advisors) — Angel