Sun Mobility’s Financials, Revenue, Profit, Valuation & Shareholding Overview (2025)
Legal Name: Sun Mobility Private Limited | CIN: U35100KA2016PTC124376
Founded by Chetan Maini and Uday Khemka, Sun Mobility is revolutionizing India's electric vehicle sector with its cutting-edge battery swapping technology and universal energy infrastructure solutions. The company is on a mission to accelerate mass adoption of electric mobility by addressing key pain points such as range anxiety and long charging times. Its modular and interoperable battery swapping stations cater to diverse vehicle segments, including two-wheelers, three-wheelers, and buses, thus enabling faster fleet turnaround and reducing operating costs. With strong backing from global investors and strategic partnerships with major OEMs and fleet operators, Sun Mobility continues to expand its network across India. Focused on sustainability and innovation, the company aims to create a robust EV ecosystem and contribute to a cleaner, greener future.
| Founded | 2017 |
|---|---|
| Headquarters | Bangalore, India |
| Valuation | ~$500 million |
| Annual Revenue (FY24 est.) | ₹180 Cr |
| Net Loss (FY24 est.) | ₹70 Cr |
| Employees | ~450 |
| Round | Year | Amount | Investors |
|---|---|---|---|
| Series A | 2018 | $50 million | Bosch, Maini Group |
| Series B | 2021 | $60 million | Vitol, others |
| Series C | 2023 | $100 million | Strategic Investors |
Sun Mobility has demonstrated strong revenue growth from ₹80 Cr in FY22 to ₹180 Cr in FY24. Losses have narrowed as operational efficiencies improve and scale advantages take hold.
EBITDA margins have shown gradual improvement due to better cost structures and operational streamlining efforts, moving from -45% in FY22 to -20% in FY24.
The workforce has grown to approximately 450 in FY24, supporting technological advancements and expansion of battery swapping infrastructure nationwide.
- Accelerate infrastructure rollout in new cities and regions
- Strengthen partnerships with OEMs and fleet operators
- Explore international market entry opportunities
- IPO considerations post-2025 to fund further scale and R&D
Sun Mobility announced new collaborations with delivery aggregators and logistics giants to expand EV adoption, along with additional strategic funding to support scaling plans.
| Metric | Detail |
|---|---|
| Revenue FY24 | ₹180 Cr – Significant YoY growth |
| Net Loss FY24 | ₹70 Cr – Improved from previous years |
| EBITDA Margin | -20% – Showing gradual improvement |
| Valuation | ~$500M – Backed by strategic investors |
| Employees | ~450 – Scaling operations and technology |
Sun Mobility’s focus on scalable battery swapping and strong ecosystem partnerships positions it as a key enabler in India’s EV revolution. Its robust growth trajectory and technological innovations align well with its vision for sustainable urban mobility. Make smarter business decisions with verified insights on companies and directors. Visit Affluense.ai to learn more.
Economic Times, Business Standard, Entrackr, Inc42, Company filings
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