Bengaluru-based Yuma Energy raised $35 million from Magna International to expand its battery fleet, charging infrastructure and presence beyond its current 18 cities. The company reports more than 60 million swaps using over 100,000 batteries and 2,500 charging units. Moneycontrol — 1 September 2026

• What changed: Yuma has obtained primary growth capital and plans to broaden integrations with fleets and vehicle manufacturers.
• Why it matters: Battery-as-a-Service demonstrates how software, physical assets, subscriptions and real-time operations combine into one platform.
• Practical takeaway: For an IoT platform, model each battery as a lifecycle-managed asset with telemetry, health, custody, charging history and immutable swap events.
• Analysis: Yuma targets network-wide EBITDA positivity by FY27, but infrastructure utilisation and battery-format standardisation remain execution risks.