Helios Climate Backs SUN Mobility's Global Push in Landmark Investment Round
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Helios Climate, in collaboration with the Private Infrastructure Development Group, has invested in SUN Mobility to drive the rollout of Africa's battery swapping network. The funding will also help the company expand its domestic operations in India. This latest capital raise takes the total amount secured by SUN Mobility in the past year to about USD 135 million.
The funds will be directed toward deploying clean mobility infrastructure across Africa, focusing on two- and three-wheelers as well as heavy electric vehicles. The company also plans to strengthen its presence in South-East Asia while enhancing battery and quick interchange station production capabilities.
Tavraj Banga, Partner and Co-Head of Helios Climate, said, "SUN Mobility's interoperable platform works across multiple original equipment manufacturers and vehicle types, making electrification possible at scale. This, combined with the economic and decarbonisation advantages, positions it as a strong choice for emerging markets. We look forward to collaborating with the company and its stakeholders to bring sustainable and scalable transport solutions to Africa."
SUN Mobility was founded in 2017 by the SUN Group and the Maini Group, both recognised for their contributions to electric mobility and clean energy technologies. The company currently operates more than 900 battery swapping stations, powering a fleet of over 50,000 vehicles. Its open-architecture battery systems are designed and manufactured in India and can be used by two-wheelers, three-wheelers, four-wheelers, and heavy electric vehicles.
Chetan Maini, Co-founder and Chairman of SUN Mobility, added, "With more than 1.4 million monthly battery swaps in India, we have built a model that adapts to real-world needs. Africa's rapid urban growth and its dependence on two and three-wheelers make it well-suited to adopt clean mobility technologies at pace."
SUN Mobility's model separates battery ownership from the vehicle, lowering the initial cost of electric vehicles and improving affordability. This approach addresses key challenges faced by fleet operators and policymakers in reducing emissions and air pollution. According to industry estimates, two- and three-wheelers contribute around five percent of Africa's carbon dioxide emissions, with the market expected to grow to over 1.9 million vehicles annually by 2030.
The company counts Bosch, Vitol, and Indian Oil Corporation among its strategic investors. Its technology has facilitated over 20 million battery swaps globally, enabling hundreds of millions of electric kilometers and preventing significant carbon emissions.
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Asia Pacific is expected to grow in the foreseeable period due to multiple reasons contributing to the growth of the convenience food market in the region. Factors such as high demand for convenience food options, managing professional and personal life balance, rise in disposable income, and dual-income households help in the growth of the market in the foreseen period. Convenient food options such as ready-to-eat foods, ready-to-make foods, and other similar options are high in demand as they are easy to prepare and are also high in nutrition. Countries such as India, China, Japan, and South Korea have a high contribution to the growth of the market in the region. Convenience Food Market Report Scope Report Attribute Key Statistics Base Year 2024 Forecast Period 2025 to 2034 Growth Rate from 2025 to 2034 CAGR of 5.3% Market Size in 2024 USD 511.15 Billion Market Size in 2025 USD 538.24 Billion Market Size by 2034 USD 856.71 Billion Dominated Region Europe Fastest Growing Region Asia Pacific Regions Covered North America, Europe, Asia-Pacific, Latin America and Middle East & Africa Have Questions? Let's Talk—Schedule a Meeting with Our Insights Team: Convenience Food Market Segmental AnalysisType AnalysisFrozen Food Segment Dominated the Convenience Food Market in 2024 The frozen food segment dominated the convenience food market in 2024 due to its high demand by working professionals and students. Frozen fast food options, fruits, vegetables, and other food options are easy and quick to consume, allowing consumers to save time. The nutritional value of food options remains intact in frozen form, hence the segment dominated the convenience food market in 2024. The ready-to-eat foods segment is expected to grow in the foreseen period due to its convenience factor, allowing consumers to save their time and also aid their hectic lifestyle schedules. Such food options allow consumers to save their time from cooking meals and also allow them to keep a tab on the nutritional requirements of their bodies as well. Such food options are available in sustainable packaging as well to enhance the shelf life of food options, along with maintaining their nutritional value. Product AnalysisThe Meat and Poultry Segment Dominated the Convenience Food Market in 2024The meat and poultry segment dominated the convenience food market in 2024 due to its high demand by consumers. Meat products are rich in protein and hence are highly demanded by health-conscious people to ensure their protein intake is complete. The segment is available in a variety of meat options that can be optimized as breakfast, lunch, and dinner options. Hence, the segment led the convenience food market. The cereal-based foods segment is expected to grow in the forecast period due to the high demand for nutritious breakfast options by health-conscious consumers. The segment involves food options such as cereal snacks, granola bars, cereal-based quick bites, oatmeal, and other similar options. Marketers today are also introducing options in the segment, such as low sugar, high fiber, and whole-grain options, to engage more consumers and allow the market's easy growth. Distribution Channel AnalysisThe Supermarkets/Hypermarkets Segment Dominated the Convenience Food Market in 2024 The supermarket/hypermarket segment dominated the convenience food market in 2024, as such markets allow customers to shop for different types of required products under one roof. The layout of such markets is easy to follow, and hence consumers can have a look at the separate convenience food section to shop for their required essentials with ease. It helps to engage more customers, and the location of such stores also aids in the growth of the market. The convenience stores segment is expected to grow in the forecast period due to its easy-to-spot locations, allowing consumers to spot such stores easily, further fueling the growth of the market. Such stores are highly observed in overly crowded locations, allowing consumers to shop for their essentials easily without the hassle of searching stores specifically for convenient food options. Hence, the segment is observed to grow in the foreseen period. Feel Free to Get in Touch with Us for Orders or Any Questions at: sales@ Topics Worth Exploring: Enriched Food Market: The global enriched food market size is expected to grow from USD 196.33 billion in 2025 to USD 460.30 billion by 2034, at a CAGR of 9.93% over the forecast period from 2025 to 2034. Gluten Free Food Market: The global gluten free food market size increasing from USD 14.25 billion in 2025 and is expected to surpass USD 33.59 billion by 2034, with a projected CAGR of 10% during the forecast period from 2025 to 2034. Canned Food Market: The global canned food market size was reached at USD 122.72 billion in 2024 and is anticipated to reach USD 181.66 billion by 2034, growing at a CAGR of 4% over the next decade. Organic Food Market: The global organic food market size is expected to grow from USD 253.96 billion in 2025 to USD 660.25 billion by 2034, with a compound annual growth rate (CAGR) of 11.20% during the forecast period from 2025 to 2034. Frozen Food Market: The global frozen food market size is expected to grow from USD 214.32 billion in 2025 to USD 347.01 billion by 2034, at a CAGR of 5.50% over the forecast period. Sugar-Free Food Market: The global sugar-free food market size is expected to grow from USD 48.14 billion in 2025 to USD 83.2 billion by 2034, growing at a CAGR of 6.27% during the forecast period from 2025 to 2034. Vegan Food Market: The global vegan food market size is anticipated to grow from USD 22.38 billion in 2025 to USD 55.88 billion by 2034, with a CAGR of 10.7% during the forecast period from 2025 to 2034. Snack Food Market: The global snack food market size is expected to increase from USD 265.95 billion in 2025 to USD 468.76 billion by 2034, growing at a CAGR of 6.50% throughout the forecast period from 2025 to 2034. Recent Developments in the Convenience Food Market In June 2025, ZOFF launched its gravies and marinades mix and entered India's ready-to-cook market. The main aim of the launch, expressed by ZOFF's co-founder, Mr Akash Agarwalla, is to act as the middle layer between ready-to-eat and ready-to-cook segments. (Source- In February 2025, Marico, India's leading FMCG company, announced the launch of 'Saffola Cuppa Oats', a ready-to-make snack option. The main aim of the brand is to serve customers with healthy and nutritious breakfast options, along with curtailing the hassle and preparation time required to invest in a healthy breakfast. (Source- Convenience Food Market Leading Companies Mondelez International Inc. Kraft Foods Group, Inc. W.H. Group MTR Foods Pvt. Ltd. Bakkavor Group plc Associated British Foods plc McCain Foods Limited Ajinomoto Foods, N.A. Vandemoortele N.V. Lantmännen Unibake Nestlé S.A. EUROPASTRY S.A. Grupo Bimbo JBS Foods Omar International Pvt. Ltd. Segments Covered in the ReportBy Type Frozen foods Raw Food Canned foods Ready-to-eat Ready-to-Cook Others By Product Meat/poultry products Cereal-based products Vegetable-based products Others By Distribution channel Supermarkets/hypermarkets Specialty stores Convenience stores Others By RegionNorth America U.S. Canada Asia Pacific China Japan India South Korea Thailand Europe Germany UK France Italy Spain Sweden Denmark Norway Latin America Brazil Mexico Argentina Middle East and Africa (MEA) South Africa UAE Saudi Arabia Kuwait Thank you for exploring our insights. For more targeted information, customized chapter-wise sections and region-specific editions such as North America, Europe, or Asia Pacific—are also available upon requestFor Detailed Pricing and Tailored Market Report Options, Click Here: Feel Free to Get in Touch with Us for Orders or Any Questions at: sales@ expert insights, custom research, and premium support with the Towards FnB Annual Membership. For USD 495/month (billed annually), get full access to exclusive F&B market data and personalized guidance. It's your strategic edge in the food and beverage industry: About UsTowards FnB is a global consulting firm specializing in the food and beverage industry, providing innovative solutions and expert guidance to elevate businesses. With an in-depth understanding of the dynamic F&B sector, we deliver customized market analysis and strategic insights. Our team of seasoned professionals is committed to empowering clients with the knowledge needed to make informed decisions, ensuring they stay ahead of market trends. Partner with us as we redefine success in the rapidly evolving food and beverage landscape, and together, we'll navigate this transformative Trusted Data PartnersPrecedence Research | Statifacts | Towards Packaging | Towards Chemical and Materials| Nova One AdvisorSign in to access your portfolio
