Indonesian EV startup Swap Energi has raised $22 million in a Series A funding round. The investment was led by Qiming Venture Partners, Ondine Capital, and GGV Capital. Swap Energi provides electric motorbike battery exchange and infrastructure services in Indonesia, with over 1,300 swapping centers across multiple cities. The company has partnered with EV manufacturers Smoot and Minerva Electrons, as well as retailers such as Shell and Alfamidi to expand its battery exchange infrastructure. Swap Energi also collaborates with industry leaders Grab and Perusahaan Listrik Negara to develop an integrated electric vehicle ecosystem in Indonesia. The funding will be used to further enhance the company’s network and services.
Indonesia’s Swap Energi nails $22M in series A funding!
Latest from Blog
Arch Venture Partners secures over $3bn for Fund XIII
TLDR: Arch Venture Partners has raised over $3 billion for Fund XIII. Investors in the fund include Alaska Permanent Fund and Rockefeller Brothers Fund. In a recent development, Arch Venture Partners has
Raising Your First Venture Fund: Tips for Success
TLDR: Samir Kaji, a seasoned venture capital professional, shares a six-point plan for raising a venture fund as a first-time fund manager. Key steps include staying focused on a niche, not worrying
Exploring China’s Quantum Computing Breakthrough and VC Trends
TLDR: ONCO stock surged over 80% in pre-market after Altos Venture acquired a stake Chinese low float stocks like DUO rose over 40% in sympathy with large caps Summary: The article discusses
The Blindspot: Venture Capitalists’ Go-To Tool with Fatal Flaw
TLDR: Nader Al-Naji, founder of Bitclout, was arrested for an alleged crypto scam involving VC giant Andreessen Horowitz as a victim. VCs’ pattern matching led them to invest in Al-Naji despite red
Korean startups seek corporate investors in challenging ecosystem climate
TLDR: Korean startups are seeking corporate investors as funding becomes harder to secure. The government in South Korea has relaxed CVC rules to attract more foreign investment. Korean startups are facing a