Why This Matters
Founded by Amit Gupta, Anuj Tewari, RK Misra and Naveen Dachuri, the fresh capital will enable Yulu to quadruple its active fleet from around 50,000 to 200,000 electric vehicles over the next two years. The company also plans to expand into new cities and strengthen its role in ecommerce logistics, bike taxis, and last-mile delivery.
What's the Bigger Picture?
India's growing quick-commerce and ecommerce ecosystem is increasing demand for efficient electric last-mile mobility. Yulu's combination of MaaS and logistics-focused EVs positions it to benefit from this demand, while its positive EBITDA and plans for a potential public listing signal a shift toward its next stage of scale.
Key Takeaways
Yulu has raised $93 million in Series C, including equity and debt, to scale its electric mobility operations. The company plans to grow its fleet to 200,000 EVs, expand across approximately 20 cities, develop new mobility use cases, and prepare for a potential public-market listing.
