Tuesday, 22 April, 2025

Yulu Targets $80M Funding to Boost EV Fleet Amid Quick Commerce Surge

Bengaluru-based shared mobility startup Yulu is in advanced talks to raise $75–80 million to expand its electric vehicle fleet, capitalizing on India's booming quick commerce sector. Backed by Bajaj Auto and Magna International, Yulu recently achieved $30 million in annual recurring revenue and EBITDA profitability. The funding round, expected to include both debt and equity, may increase Yulu's valuation by 20–25% from its last valuation of $210 million.