Yuma Energy, one of India’s fastest-growing battery-swapping networks, has raised $35 million in Series A funding from Magna International Inc., a leading global automotive supplier. The fresh capital will be used to expand Yuma Energy’s battery-swapping infrastructure across India. The company has already completed more than 60 million battery swaps through its network, supported by over 100,000 batteries deployed across 2,500+ charging units and more than 400 touchpoints in 18 cities.
The investment will support Yuma Energy’s next phase of growth, including expanding its battery swapping network across India, broadening its customer base to serve a wider mix of EV users, Fleet and OEM partners, and advancing toward its goal of achieving EBITDA-positive operations by FY27. The company plans to continue strengthening the infrastructure and technology platform that delivers safe, reliable and high-uptime energy solutions for a growing customer base of riders, fleet operators and OEM partners.
Through this investment, Yuma Energy and Magna will continue working together to expand access to convenient, dependable energy infrastructure for India’s rapidly growing electric two- and three-wheeler ecosystem.
“This investment is a strong vote of confidence in Yuma Energy’s mission to make battery swapping the backbone of electric mobility in India. Crossing 60 million swaps was a defining moment for us, and with Magna’s support, we’re accelerating our infrastructure rollout and deepening our partnerships with Fleets & OEMs to make swapping the default choice for every electric two and three-wheeler on Indian roads.” said, Muthu Subramanian, MD & GM of Yuma Energy.
“Battery swapping plays an important role in making electric mobility more accessible, practical and scalable, particularly for high-utilization two- and three-wheelers. Yuma Energy has demonstrated strong execution, operational excellence and a deep understanding of the needs of riders, fleet operators and OEMs across India. We are pleased to support the company’s next phase of growth as it expands its network both geographically and through a diversity of consumers to continue advancing the adoption of sustainable mobility solutions,” said Matteo Del Sorbo, Yuma Energy Board Member and Group President at Magna.
As demand for electric two- and three-wheelers continues to grow across India, Yuma Energy remains focused on expanding access to reliable battery swapping infrastructure that helps riders and fleet operators stay on the road while accelerating the broader adoption of electric mobility.
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