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Swap Energy Secures US$22 Mn in Series A Round led by Qiming Venture Partners

Swap Energy, an Indonesian E-Mobility-Startup, received US$22 million in a Series A round, headed by Qiming Venture Partners. Participating investors include GGV Capital and Ondine Capital, an existing investor.
Swap Energy

Swap Energy, an Indonesian E-Mobility-Startup, received US$22 million in a Series A round, headed by Qiming Venture Partners. Participating investors include GGV Capital and Ondine Capital, an existing investor.

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While Qiming Venture Partners invested about US$12 million, GGV Capital and Ondine Capital contributed US$8 million and US$2 million, respectively, in Swap Energy’s funding round.

Read also – Micoworks Raises Approximately US$24.5M to Accelerate Global Business Expansion
 
To create an integrated ecosystem for electric vehicles in Indonesia, Swap Energy has also teamed up with Grab and Perusahaan Listrik Negara, a government-owned power utility.

Read also – Singapore-based Cumulus Encrypted Storage System Raises $8M Series A Funding

About Swap Energy

Swap Energy, founded in 2019, is a pioneering e-mobility start-up focusing on tech-driven swappable energy network infrastructure which comprises portable battery packs, battery-swapping charging stations, together with sales of “SMOOT” e-motorcycles in Indonesia.

Read also – SalarySe Secures $5.2 Mn Seed Funding led by Surge Ventures

Swap Energy develop automated battery swapping stations that are distributed around cities. Easy to Install, Scalable, & Secured with authentication system which enables only registered users who can use it. Real-time information of battery availability & condition with digitally secured authentication. Swap Energy’s Battery Management System (BMS) regulates current flow, control temperature, and other safety aspects of battery charging.

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