Yuma Energy has crossed 60 million battery swaps as it raises fresh capital to scale its EV energy infrastructure across India.
Yuma Energy has raised $35 million in Series A funding from Magna International to expand its battery-swapping infrastructure for electric two- and three-wheelers across India.
The investment comes after Yuma completed more than 60 million battery swaps, reflecting growing demand for swapping solutions among EV riders and fleet operators. The company plans to use the fresh capital to expand its network, enter new markets and strengthen its technology platform.
Yuma currently operates more than 100,000 batteries, 2500 charging units and over 400 touch points across 18 cities. It plans to scale this infrastructure while expanding partnerships with electric vehicle original equipment manufacturers (OEMs) and fleet operators.
Battery swapping can be particularly useful for high-utilisation two- and three-wheelers, where conventional charging can result in significant vehicle downtime. Swapping allows users to replace depleted batteries with charged ones, helping improve vehicle availability and operational efficiency.
“Crossing 60 million swaps was a defining moment for us,” said Muthu Subramanian, MD and GM, Yuma Energy. He added that Magna’s investment would help accelerate infrastructure deployment and strengthen partnerships with fleets and OEMs.
Yuma is also targeting EBITDA-positive operations by FY27 as it expands its network and customer base.
Magna backs EV infrastructure expansion
Magna said battery swapping can play an important role in making electric mobility more practical and scalable, particularly for high-use two- and three-wheelers.
The investment comes as India’s electric two- and three-wheeler ecosystem continues to expand, increasing the need for reliable energy infrastructure. For Yuma, the focus will now be on increasing the geographic reach of its network and supporting more EV users.
The funding marks another step in Yuma’s expansion strategy as battery swapping becomes an increasingly important part of India’s EV charging ecosystem.
