EV battery swapping infra provider Yuma Energy raises $35-M from Magna International

Bengaluru-based Yuma Energy has raised USD 35 million in a Series A funding round from auto components maker, Magna International.Founded in 2023 as a joint venture between Magna and Yulu Energy, Yuma Energy provides battery swapping infrastructure and services for electric vehicles. The firm claims to operate more than 2,500 charging stations across 18 cities and reports having delivered more than 6 crore battery swaps to date.The company plans to use the new funds to expand its battery swapping network, broaden its customer base, and strengthen its technology platform.