India, Sept. 1 -- Battery swapping platform Yuma Energy has raised $35 Mn (Rs.333 Cr) in its Series A funding round from existing backer and Canada-based automotive giant Magna International.

The startup plans to use the fresh proceeds to expand its battery swapping network across India, broaden its customer base and strengthen its tech platform. As part of the deal, Yuma Energy and Magna will also work together to scale the former's presence in the electric two- and three-wheeler ecosystem.

". Crossing 6 Cr swaps was a defining moment for us, and with Magna's support, we're accelerating our infrastructure rollout and deepening our partnerships with fleets and OEMs (original equipment manufacturers) to make swapping the default choice f...