Yuma Energy Raises $35M Series A Led by Magna International

Yuma Energy Secures $35M in Series A Funding

Bengaluru-based Battery-as-a-Service (BaaS) company Yuma Energy has raised $35 million in a Series A funding round, with automotive supplier Magna International as the lead investor. The round was announced on August 31, 2026.

Company Overview

Yuma Energy operates a large battery-swapping network for electric two- and three-wheelers in India. Formed in early 2023 as a joint venture between Magna International and mobility startup Yulu, the company designs and manufactures its own battery packs in Chennai and charging units in Bengaluru. It currently runs over 400 swapping stations with more than 2,500 charging units across 18 Indian cities.

Key Milestones

• Completed over 60 million battery swaps
• Powers Yulu's fleet as well as third-party fleets, OEM partners, and last-mile delivery operators

Funding Details

• Round: Series A
• Amount: $35 million (USD)
• Lead Investor: Magna International
• Investors: Magna International
• Announcement Date: August 31, 2026

Strategic Implications

The investment from Magna International, a founding partner, underscores continued confidence in Yuma Energy's business model and growth trajectory. The funds are expected to support the expansion of its swapping network and further development of its battery technology.

Yuma Energy's focus on battery swapping addresses key challenges in the electric vehicle ecosystem, such as charging time and battery lifecycle management. With its extensive network and operational experience, the company is well-positioned to scale its services across India.

As the demand for electric mobility grows, Yuma Energy's infrastructure plays a critical role in enabling widespread adoption of electric two- and three-wheelers, particularly for commercial use.

For more information, visit yuma.energy.