PT Swap Energi Indonesia

PT Swap Energi Indonesia, based in Jakarta, Indonesia, focuses on electric mobility solutions, particularly through innovative battery swapping systems tailored for e-motorcycles, enhancing user experience and convenience in urban transportation. Founded in 2019 in Jakarta, Indonesia, PT Swap Energi Indonesia specializes in electric mobility solutions. The company has completed four deals, including a Series A funding round where it raised USD 22. 00 mn on January 2, 2024, led by Qiming Venture Partners.

The founders, Kevin Phang and Martin Zhuang, have a background in technology and entrepreneurship, contributing to the company’s strategic direction and growth. Swap Energy offers an advanced ecosystem for the electrification of motorcycles through its innovative battery swapping solution. Core products include the Swap Battery, a portable battery compatible with various e-motorcycle models, and the Swap App, designed to streamline the battery swapping process. This ecosystem mitigates range anxiety for e-motorcycle users with over 1,500 battery swapping stations strategically located across Indonesia, often in partnership with gas stations and convenience outlets, serving both individual riders and corporate fleets.

Swap Energy generates revenue through partnerships with retail and convenience stores that host its battery swapping stations. While specific pricing plans are not disclosed, the transaction structure includes B2B partnerships and direct-to-consumer services via the Swap App. This business model supports ongoing transactions as users access battery swapping services, fueled by the increasing adoption of electric motorcycles in Indonesia. On January 2, 2024, PT Swap Energi Indonesia raised USD 22.

00 mn in Series A funding, led by Qiming Venture Partners, with participation from GGV Capital and returning investor Ondine Capital. The company intends to utilize this funding to develop an integrated electric vehicle ecosystem in Indonesia, expanding its market presence and enhancing its product offerings. This strategic direction aims to address the growing demand for reliable electric mobility solutions in the region.