Series A · Mobility
Yuma Energy raises $35m Series A led by Magna International
The battery-swapping provider plans to expand infrastructure and serve more EV riders, fleets and OEM partners.
Expanding an existing battery-swapping network
Magna International led Yuma Energy’s $35 million Series A. The capital will expand battery-swapping infrastructure across India and broaden its customer base among EV users, fleets and manufacturer partners.
Yuma reports more than 60 million completed swaps across a network covering 18 cities. The round supports the next phase of that network’s growth; it is separate from the Grinntech acquisition described elsewhere in the company’s history.
Use of funds
Expand battery-swapping infrastructure across India
Broaden customer base across EV users, fleet operators and OEM partners
Funding history
Series A · This round$35M