Yuma Energy raises $35M in Series A from Magna International

Yuma Energy, a battery-swapping venture co-founded by Yulu and Magna International, has raised $35 million in a Series A funding round led by Magna International, the global automotive supplier. The company said it will use the funds primarily to expand its battery-swapping infrastructure across India. Yuma Energy has completed 60 million battery swaps to date, with 100,000 batteries deployed across more than 2,500 charging units and 400 touchpoints in 18 cities.