BSD City, March 18, 2022 - SWAP Energy, Indonesia’s first smart battery swapping network, announced the successful closing of a Series Pre-A funding with participation from Kejora-SBI Orbit, Baramulti Group, Living Lab Ventures of Sinar Mas Land and New Energy Nexus Indonesia, Yifang, Raksasa Capital, strategic corporate investors and high-net-worth individuals.
“I thank the investors for believing in SWAP and the team. Upon closing this oversubscribed pre-A round, we will expedite our plans to accelerate the battery swapping reach and the adoption of electric motorcycles in our beloved cities,” said Irwan Tjahaja, SWAP Energy co-founder and CEO. “In order to cater the growing demands and trends of electric vehicles, we believe that strong infrastructure, enjoyable driving experience, and best after-sales services should be our highest priorities,” Irwan added.
SWAP Energy Network has prevailed through SMOOT, the first e-motorcycle that uses the battery-swapping system in Indonesia. SWAP's IoT technology connects batteries, swap stations, and e-motorcycles, making it easy for riders to see the status of their motorcycles, easily top-up mileage, and even turn off the motorcycles remotely via the SWAP application for security purposes.
“SWAP Energy will enhance our development in building sustainable environment and lifestyle of living. Through Living Lab, we would like to introduce to the citizens of BSD City that Sinar Mas Land is seriously building another level of living.” said Mulyawan Gani, Chief of Digital Transformation Sinar Mas Land.
In February 14th 2022, company also decided to join Digital Hub ecosystem as they grow bigger. Irawan Harahap, Chief Digital Tech Ecosystem & Development explained, “We believe the positive growth of SWAP Energy in Digital Hub ecosystem will expand more opportunities of collaboration, interaction and engagement to the tech startup communities and to citizens of BSD City.”
With this investment, SWAP Energy will accelerate the adoption of electric vehicles even further, supporting the Indonesian government to reach a target of 13 million electric motorcycles on the roads by 2030. To propel the adoption, SWAP is partnering with large enterprises such as Lazada Logistics, Pos Indonesia, Alfamart, Circle K, and many more.