Swish Club Raises USD 4.5 Million in Pre-Series A Funding

New Delhi, Feb 18 (PTI) Devices-as-a-Service (DaaS) platform Swish Club has raised USD 4.5 million in pre-series A funding led by Powerhouse Ventures.

The fundraising includes USD 3.3 million in equity and USD 1.2 million in debt financing, according to a company statement.

Alongside Powerhouse Ventures, the round saw participation from Blume Ventures, Founders Fund, Touchstone Ventures, Eternal Capital, and Atrium Ventures. It also included Livspace's Anuj Srivastava, Al Jazira Capital's Ajit Reddy, Citi Ventures Head Jatin Mamtani, and Deb Dutt and Tushar Patel from Goldman Sachs.

Swish Club is a digital platform that facilitates laptop rentals for enterprises and smartphone leasing for corporate employees. It has partnered with original equipment manufacturers (OEMs) and its national distributors like Dell, HP, Samsung, Google, Ingram Micro, and Redington.

Swish Club will deploy the fresh funds towards further product development, talent acquisition, and revenue acceleration. The debt component will be utilised for device financing, the statement said.




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The Energy Company raises USD 2 million

* The Energy Company, an EV battery intelligence provider, has raised USD 2 million in a pre-series A round from Siana Capital, Callapina Capital, Z21 Ventures, 1Crowd, LetsVenture, and other investors.

This funding will allow the company to scale production, advance battery intelligence capabilities for fleet operators and strengthen its footprint in the energy storage sector, the company said in a statement.

The Energy Company was founded in 2021.