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PSHP Law Acts as Indonesian Legal Counsel for SWAP Energy on Its USD 22 Million Series A Funding

Updated: Feb 23

Photo source: SWAP’s website1 

PSHP Law is delighted to announce our role as Indonesian legal counsel for the USD 22 million Series A funding raised by SWAP Energy. This successful transaction, closed by the end of December 2023, featured key investments from three prominent entities namely Qiming Venture Partners, GGV Capital and Ondine Capital. 

Since its establishment in 2019, SWAP Energy has been actively engaged in providing an integrated electric vehicle ecosystem in Indonesia. This includes the provision of swappable battery packs, operating swapping stations and the distribution of electric motorcycles. The company currently operates a network of approximately 1.500 battery swapping stations that are strategically located across numerous cities in Jawa, Sumatera, Bali, Kalimatan and Sulawesi. 

In line with Indonesia’s ambitious goal to produce nine (9) million electric motorcycles by 2030, the funding received by SWAP Energy is anticipated to position the company as a significant contributor to this target. We strongly believe that SWAP Energy will play a substantial role in continuing to establish Indonesia as a key player in the electric vehicle landscape.

We therefore extend our warm congratulations to all parties and team members involved for successfully closing this milestone! 

The PSHP Law team was led by Avinash A. Panjabi, and supported by associates Mery Enjelica Stephany, Einar Fausta Hertianto and Rachel Wiyarta. 


AVINASH PANJABI Partner PSHP Law t + 62 5229705 - 06

m + 65 9179 3819 e

MERY ENJELICA  Mid-Associate PSHP Law t + 62 5229705 - 06 e

EINAR FAUSTA Associate PSHP Law t + 62 5229705 - 06 e

RACHEL WIYARTA Associate PSHP Law t + 62 5229705 - 06 e 

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PSHP Law - Press Release - SWAP Energy
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