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EV Battery Firm Swap Energi Raised Undisclosed Sum In Pre-A Series Funding

Swap Energi is deep in talks with other companies that manufacture e-motorcycles so that they can be integrated with its existing battery ecosystem.

EV Battery Firm Swap Energy Raised Undisclosed Sum In Pre-A Series Funding

Swap Energi, Indonesia based swapping solution firm for batteries of electric vehicles (EV’s) has been successful in raising an yet undisclosed amount in its pre-series A funding. This round of funding was led by Kejora-SBI Orbit along with other venture capital companies like Baramulti Group as well as Living Lab Ventures which is an affiliate of the SInar Mars Group. 

Swap Energi was founded back in 2019 by Kevin Phang and Irwan Jwahaja. The company offers battery swapping networks for its sister organisation Smoot, which is an electric motorcycle company. However, according to Tjawaja, the company is deep in talks with other companies that manufacture e-motorcycles so that they can be integrated with Swap Energi’s existing battery ecosystem. 

According to a recent statement, Swap Energi announced that it has built over 400 swap stations in Bali and greater Jakarta. With the fresh funding acting as a shot in the arm, it plans to further build over 1100 stations all across Indonesia by the end of this year, 2022. 

Of late, both Smoot and Swap Energi have gone into partnerships with famous and prominent logistics companies like Lazada Logistics, Paxel and Pos Indonesia in order to increase the adoption and acceptance of its electric vehicle networks and the surrounding ecosystem. 

The pre A-series funding also saw participation from Yifang, New Energy Nexus Indonesia and Raksasa Capital. With these fresh funds, Swap Energi is all set to expand its EV ecosystem dramatically as it sees fresh interest in environment friendly vehicle solutions in Indonesia and beyond.

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