Indian electric mobility startup Yulu has raised $93 million through a combination of equity and debt, securing fresh funding to expand its electric two wheeler fleet and enter new cities.
The Bengaluru based company plans to use the capital primarily to increase the number of vehicles available to customers and delivery workers as demand for affordable electric mobility continues to grow.
Yulu currently operates an active fleet of around 50,000 electric two wheelers. Over the next two years, the company plans to quadruple that number to 200,000 vehicles.
The startup also plans to expand its presence from 12 cities to 20 cities within the next 12 months, using a combination of company operated and franchise models.
Founded in 2017, Yulu has built its business around electric vehicles used particularly for quick commerce and food delivery.
Yulu is also expanding beyond its existing low speed electric vehicles with a high payload electric scooter designed for intra city logistics.
The new vehicle is intended to serve several growing segments, including e commerce logistics, bike taxis and express parcel delivery. This gives Yulu an opportunity to participate in multiple areas of India's rapidly developing urban mobility market.
Yulu's expansion follows significant revenue growth. For the financial year ended March 31, 2025, the company nearly doubled its revenue to 2.37 billion rupees, while its losses narrowed by 12% to 1.26 billion rupees.
The company is targeting annualised revenue of between 12 billion and 15 billion rupees and expects to become monthly profit after tax positive in the next calendar year as its expanded fleet becomes operational.
Indian electric mobility startup Yulu has raised $93 million through a combination of equity and debt, securing fresh funding to expand its electric two wheeler fleet and enter new cities.
Indian electric mobility startup Yulu has raised $93 million through a combination of equity and debt, securing fresh funding to expand its electric two wheeler fleet and enter new cities.
The Bengaluru based company plans to use the capital primarily to increase the number of vehicles available to customers and delivery workers as demand for affordable electric mobility continues to grow.
Yulu currently operates an active fleet of around 50,000 electric two wheelers. Over the next two years, the company plans to quadruple that number to 200,000 vehicles.
The startup also plans to expand its presence from 12 cities to 20 cities within the next 12 months, using a combination of company operated and franchise models.
Founded in 2017, Yulu has built its business around electric vehicles used particularly for quick commerce and food delivery.
Yulu is also expanding beyond its existing low speed electric vehicles with a high payload electric scooter designed for intra city logistics.
The new vehicle is intended to serve several growing segments, including e commerce logistics, bike taxis and express parcel delivery. This gives Yulu an opportunity to participate in multiple areas of India's rapidly developing urban mobility market.
Yulu's expansion follows significant revenue growth. For the financial year ended March 31, 2025, the company nearly doubled its revenue to 2.37 billion rupees, while its losses narrowed by 12% to 1.26 billion rupees.
The company is targeting annualised revenue of between 12 billion and 15 billion rupees and expects to become monthly profit after tax positive in the next calendar year as its expanded fleet becomes operational.