How Much Did SUN Mobility Raise? Funding & Key Investors

SUN Mobility has successfully raised funding over three rounds, with the latest being a Venture - Series Unknown round. The company is backed by notable investors such as InfraCo Asia and Helios Investment Partners.

Keep reading to explore the intricacies of SUN Mobility's fundraising journey and the investors supporting this innovative platform.

What Is SUN Mobility?

SUN Mobility, founded in 2016, is a private company based in Bangalore, Karnataka, India. It operates in the electric vehicle (EV) infrastructure and services industry, focusing on designing electric vehicles, smart batteries, and swap point infrastructures.

The company employs between 501-1000 people and has established a significant presence with its innovative battery swapping solutions. SUN Mobility aims to make EVs financially viable by offering batteries on a 'pay-as-you-go' model, addressing high upfront costs, range anxiety, and long refueling times.

How Much Funding Has SUN Mobility Raised?

1. Funding Round: Series Unknown
   • Amount Raised: USD 60,000,000
   • Date: July 2025
   • Lead Investors: Helios Investment Partners, InfraCo Asia
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand manufacturing capabilities and enhance smart battery and swap point infrastructure.
2. Funding Round: Corporate Round
   • Amount Raised: USD 50,000,000
   • Date: October 2021
   • Lead Investors: Vitol
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To accelerate and expand services across India and select global markets.
3. Funding Round: Series Unknown
   • Amount Raised: Not publicly disclosed
   • Date: January 2019
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop new electric vehicle technologies and expand manufacturing capabilities.

Total Amount Raised: USD 110,000,000. Current Valuation: Not publicly disclosed.

Key Investors

• Helios Investment Partners
  • Details: Helios Investment Partners is a private equity and venture capital firm focused on investments in Africa. They have a strong track record of investing in growth-oriented businesses across various sectors.
  • Investment Focus Areas: Financial services, telecommunications, energy, consumer products, infrastructure.
  • Notable Investments: Vivo Energy, Africa Oil Corporation, Interswitch.
• InfraCo Asia
  • Details: InfraCo Asia is a company that develops infrastructure projects in South and Southeast Asia. They focus on sustainable and commercially viable projects that can attract private sector investment.
  • Investment Focus Areas: Renewable energy, water, transport, urban infrastructure.
  • Notable Investments: Coc San Hydropower Project, Metro Pacific Investments, ReNew Power.
• Vitol
  • Details: Vitol is a global independent energy trader and investor in zero-emission and renewable energy assets. They have been serving the energy markets for over 55 years.
  • Investment Focus Areas: Zero-emission and renewable energy assets, sustainable energy projects, electric vehicles.
  • Notable Investments: Not publicly disclosed.

What's Next for SUN Mobility?

As SUN Mobility looks to the future, the opportunities are vast. The company plans to expand its services across India and select global markets, aiming to set up 500 Swap Points by the end of 2022. This expansion is bolstered by a significant market potential, with over 160 million two and three-wheeler vehicles in India alone. Partnering with various OEMs and collaborating with fleet operators and distributors, SUN Mobility is poised to introduce newer business models and add more vehicles to its Mobility as a Service (MaaS) offering.

Future fundraising opportunities appear promising, with the potential for further investments to support the expansion of Swap Points and other infrastructure. Strategic partnerships with global investors and energy companies could also play a crucial role in this growth. However, challenges such as scaling up infrastructure, ensuring affordability and accessibility of EV technologies, and navigating regulatory environments in different markets may pose hurdles along the way.

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