Helios Climate, a leading investment platform focused on environmental sustainability in Africa, has joined forces with the Private Infrastructure Development Group (PIDG) to spearhead a major funding round for SUN Mobility. The deal will support the deployment of a large-scale battery swapping network across the African continent.
This latest funding milestone brings SUN Mobility’s total capital raised in the past year to around $135 million. The company plans to use the funds to introduce its modular battery swap technology across African cities and continue accelerating its operations in India.
Launched in 2017 by the SUN Group and the Maini Group, SUN Mobility runs over 900 swap stations and supports more than 50,000 electric vehicles. The firm’s battery tech—designed in India—is compatible with a wide range of electric two-, three-, and four-wheelers, as well as heavy-duty electric vehicles. Its system is open-architecture, meaning it can integrate with vehicles from various manufacturers around the world. SUN Mobility is already backed by strategic partners such as Indian Oil Corporation, Vitol (which owns Vivo Energy, the largest fuel distributor in Africa), and Bosch.
Tavraj Banga, Partner and Co-Head of Helios Climate, praised the company’s role in pushing sustainable transport forward “SUN Mobility’s platform has shown it can deliver real results. Its cross-compatible system supports various vehicle types, helping to bring affordable, low-emission transport solutions to growing cities. We’re excited to help scale this model across Africa, where the demand for clean, flexible urban transport is rapidly increasing.”
Chetan Maini, Co-Founder and Chairman of SUN Mobility, highlighted the technology’s adaptability:
“Our swapping network is built for quick, reliable, and affordable energy delivery. With 1.4 million battery swaps happening monthly in India, we’re seeing strong demand from similar markets worldwide. Africa presents a huge opportunity due to its fast-growing cities and reliance on light EVs like scooters and three-wheelers.”
SUN Mobility’s battery-as-a-service approach separates battery ownership from the vehicle itself, which significantly lowers the upfront cost of owning an electric vehicle. This model is especially useful in markets where cost and access to reliable charging remain major barriers.
Two- and three-wheelers in Africa currently contribute to nearly 5% of the continent’s carbon emissions. With over 1.9 million units projected to be sold each year by 2030, the shift to electric mobility offers a practical path to cleaner air and reduced fuel dependency.
The partnership will also support the development of supply chains for battery packs and swap stations in both Africa and Southeast Asia. These efforts are expected to help curb emissions while stimulating local industry and job creation.
Helios Climate’s involvement comes through its CLEAR Fund, which focuses on investments that combine environmental benefits with long-term financial growth. The fund seeks to strengthen climate resilience, support green job creation, and help African economies move toward net-zero goals.
SUN Mobility is a technology company dedicated to making electric transportation more accessible through rapid battery swapping. With backing from industry leaders like Bosch, Vitol, and IOCL, the company enables seamless, fast energy exchange for a wide range of electric vehicles through its proprietary Swap Point™ stations.
