India’s main shared electrical two-wheeler mobility firm, Yulu, has introduced a major fairness infusion of $19.25 million (roughly Rs 160 crore) into its enterprise. This funding comes from its present strategic buyers, Magna and Bajaj Auto Ltd.
Yulu’s Development Trajectory
Income Soars 5-Fold
Yulu has skilled a outstanding practically five-fold enhance in income over the previous 12 months, solidifying its place as a market chief within the shared mobility sector.
Strategic Partnership with Bajaj Auto and Magna
Bajaj Auto, a key investor in Yulu, emphasizes a shared imaginative and prescient for the way forward for shared and last-mile mobility. Their strategic partnership extends past monetary funding, leveraging mixed experience to construct a class-leading enterprise on this house.
Magna Worldwide acknowledges the transformative influence of inexperienced mobility options in rising markets. Yulu’s journey underscores the significance of technology-led options for electrical mobility and clear power in shaping the way forward for city transportation.
Collection C Funding on the Horizon
Yulu is on observe to boost its Collection C spherical of funding quickly, additional strengthening its management within the mobility-as-a-service (MaaS) phase. The corporate goals to deepen present enterprise traces and discover new use circumstances and geographies to gasoline its progress.
Yulu’s buyer base and it’s progress
Serving Over 4 Million Customers
Since its inception, Yulu has addressed the first- and last-mile mobility wants of over 4 million customers throughout main Indian cities. The corporate at present operates 30,000 EVs and works with main supply and logistics corporations to supply sustainable mobility choices.
Conclusion
Yulu stays dedicated to its mission of offering modern mobility options and appears ahead to continued progress and enlargement within the coming years.