India’s leading shared electric two-wheeler mobility company, Yulu, has announced a significant equity infusion of $19.25 million (approximately Rs 160 crore) into its business. This investment comes from its existing strategic investors, Magna and Bajaj Auto Ltd.
Table of Contents
Yulu’s Growth Trajectory
Revenue Soars Five-Fold
Yulu has experienced a remarkable nearly five-fold increase in revenue over the past year, solidifying its position as a market leader in the shared mobility sector.
Strategic Partnership with Bajaj Auto and Magna
Bajaj Auto, a key investor in Yulu, emphasizes a shared vision for the future of shared and last-mile mobility. Their strategic partnership extends beyond financial investment, leveraging combined expertise to build a class-leading business in this space.
Magna International recognizes the transformative impact of green mobility solutions in emerging markets. Yulu’s journey underscores the importance of technology-led solutions for electric mobility and clean energy in shaping the future of urban transportation.
Series C Funding on the Horizon
Yulu is on track to raise its Series C round of funding soon, further strengthening its leadership in the mobility-as-a-service (MaaS) segment. The company aims to deepen existing business lines and explore new use cases and geographies to fuel its growth.
Yulu’s customer base and it’s growth
Serving Over 4 Million Users
Since its inception, Yulu has addressed the first- and last-mile mobility needs of over 4 million users across major Indian cities. The company currently operates 30,000 EVs and works with leading delivery and logistics companies to provide sustainable mobility options.
Conclusion
Yulu remains committed to its mission of providing innovative mobility solutions and looks forward to continued growth and expansion in the coming years.
