Indonesian EV Battery Startup Swap Energy Raises $7.2 Million
Indonesia-based Swap Energy, which provides battery-swapping solutions for two-wheeled electric vehicles (EVs), has raised about $7.2 million in a pre-Series A funding round led by Ondine Capital, according to regulatory filings.
The company had announced the round last month without disclosing the amount of capital raised.
Ondine Capital invested nearly $3 million in the round through two vehicles, showed Swap Energy’s filings with Singapore’s Accounting and Corporate Regulatory Authority (ACRA).
Photo courtesy of Franklin Heijnen.
Source: Nikkei Asia (link opens in a new window)
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