JAKARTA — Indonesian electric vehicle maker Energy Selalu Baru (ESB), which owns the Volta two-wheeler brand, has raised fresh funding led by Twin Towers Ventures (TTV), the investment arm of Petronas Ventures, and Rigel Star Fund LP, also known as Rigel Capital, according to an announcement.
While the company did not disclose financial details in Monday’s announcement, sources told DealStreetAsia that the round is estimated to have topped the $35 million target.