India’s Yulu raises $93M as quick-commerce boom fuels e-bike demand
As India’s quick-commerce platforms race to deliver everything from groceries to smartphones in minutes, electric mobility startup Yulu has seized the boom, raising $93 million in fresh funding.
The Bengaluru‑based startup offers electric two‑wheelers on weekly subscription plans, so delivery drivers can jump straight into the platform, without buying their own vehicle. With around 50,000 electric vehicles in its fleet, Yulu reports that it logs about 1.6 million miles each week and powers more than 750,000 deliveries a day. The new funding will let Yulu grow that fleet to 200,000 bikes in the next two years and launch faster electric two-wheelers aimed at different logistics use cases.
The Series C round comprised $63 million in equity led by GEF Capital Partners and $30 million in debt financing. About $5.5 million of the equity component was used to buy shares from seed investors whose funds were nearing the end of their...
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