Magna Increases Stake in Yuma Energy to $87 Million

Yuma Energy raised $35 million in Series A funding from Magna International. The round lifts Magna's total investment in the Indian battery-swapping firm to $87 million and strengthens its majority position. Reports state the capital will expand the swapping network, grow the customer base, and improve the technology platform. TechCrunch and Inc42 both covered the transaction as a follow-on commitment by the Canadian auto supplier.