Velocity cleantech company closes pre-seed round, financing will help accelerate market adoption of its self-cleaning solar technology
Swish Solar, a cleantech company based at Velocity, the University of Waterloo’s startup incubator, has closed an oversubscribed US$1.5 million pre-seed round. The new financing will accelerate market adoption of its self-cleaning solar technology that helps make renewable energy more efficient and sustainable.
“Solar panels can lose up to 60 per cent of their efficiency due to sand and snow buildup, costing the cleantech energy industry billions in lost revenue each year,” said Miswar Syed (MASc '25), CEO of Swish Solar.
“We’re solving that problem with a sustainable, water-free cleaning solution powered by nanotechnology and AI. Our goal is to make solar truly self-sustaining: cleaner panels, higher energy yield and smarter operations that maximize every ray of sunlight.”
Swish Solar’s breakthrough innovation combines two complementary products. The first is the company’s self-cleaning nanotech film coating that removes sand and snow without water or moving parts, restoring lost efficiency and offering up to 20 times its return on investment.
As more dust and sand accumulate on a solar panel surface, it significantly reduces the amount of sunlight that can reach the panel, and makes its overall output less efficient. (Velocity / University of Waterloo)
Meanwhile, SwishOS, the company’s AI-driven analytics platform, monitors soiling and predicts optimal cleaning schedules, enabling operators to maximize energy yield and significantly reduce operating costs.
The round was led by Friday Ventures, with participation from Velocity Fund, Front Row Ventures, Alif Fund and Suno Growth. Swish Solar also received financial and advisory support from the JLL Foundation, Good Machine, Walking Softer and other early partners who share the company’s vision of a cleaner, more efficient energy future.
“Swish is tackling one of the biggest operational challenges in solar energy with an elegant mix of nanotechnology and AI,” said Shastri Mahadeo, managing partner at Friday Ventures. “Their approach has the potential to redefine how solar assets are maintained globally, and we’re proud to back their vision for a cleaner, more efficient energy future.”
Swish Solar has already signed customers across multiple countries in North America and the Middle East, including pilot deployments with major solar operators. The new funding will support product manufacturing, AI model development and team growth across engineering and business development as the company scales toward full commercialization.
“Cleaning solar panels takes significant time and cost,” said Haluk Örs, CEO of Renko Energy, one of Swish Solar’s customers. “We’re working with Swish Solar to deploy their self-cleaning technology and data-driven soiling solution across our 12 sites. We see this as a transformative step toward cleaner and more efficient solar operations across Turkey.”
Swish Solar joined Velocity's Innovation Arena in Kitchener, Ont. earlier this year. (Velocity / University of Waterloo)
Founded out of the University of Waterloo’s Velocity incubator, Swish Solar joins a growing community of startups developing solutions that address the world’s most pressing sustainability challenges. Since Swish Solar joined Velocity in 2025, it has nurtured the company’s development, providing essential resources that take bold ideas and help scale them up to be ready for full market deployment.
“Swish Solar represents exactly the kind of bold, scalable innovation we aim to support at Velocity,” said John Dick, senior director of founder management at Velocity.
“Their team is combining deep technical expertise with a strong sense of purpose by addressing one of the world’s biggest renewable energy challenges with solutions that can have real global impact. It’s exciting to see founders like this turn ambitious ideas into commercially viable products that move us toward a more sustainable future.”
About Velocity
Velocity accelerates entrepreneurs' growth from idea to early-stage start-up and beyond. These founders have access to unmatched resources, collaboration space, funding, and an expansive and experienced network made possible only by the University of Waterloo — Canada's top university for founders. In the 15 years since its inception as a University of Waterloo residence, more than 400 Velocity companies have netted more than US$40 billion in enterprise value.
Featured Image: Amirhossein Boreiri (left), Swish Solar's Chief Technology Officer, and Miswar Syed, Chief Executive Officer, are the latest Velocity-based company to raise pre-seed funding. (Velocity / University of Waterloo)
