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January 3, 2024
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Indonesia’s Swap Energi nails $22M in series A funding!

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.

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