Yuma Energy has raised $35 million in Series A funding from Magna International to expand its battery-swapping network across India.

Yuma Energy has raised $35 million in Series A funding from Magna International to expand its battery-swapping network across India. The Bengaluru-based company provides battery-as-a-service infrastructure for electric two- and three-wheelers, helping riders and fleet operators reduce downtime.

The funding will support network expansion, additional battery deployment and stronger partnerships with EV fleets and vehicle manufacturers. Yuma reports more than 60 million battery swaps across 18 Indian cities, reflecting the growing role of battery-swapping infrastructure in the country’s electric mobility ecosystem.