Key facts
- Yulu has raised $93 million in Series C funding.
- The funding includes $63 million in equity.
- The funding includes $30 million in debt.
- Yulu plans to expand its fleet to 200,000 electric two-wheelers.
- Yulu will launch new electric two-wheeler models.
- The expansion aims to support India's quick-commerce sector.
Yulu, an electric mobility startup, has successfully raised $93 million in its Series C funding round. This significant capital infusion is comprised of $63 million in equity and $30 million in debt financing. The primary objective of this funding is to fuel the expansion of Yulu's electric two-wheeler fleet, with a target of reaching 200,000 vehicles. Additionally, the company plans to introduce new electric two-wheeler models designed to cater to the burgeoning quick-commerce sector in India. This strategic move positions Yulu to capitalize on the increasing demand for rapid delivery services, offering a more sustainable and efficient mode of transportation for delivery partners. The expansion is expected to enhance Yulu's operational capacity and solidify its presence in the Indian market.