Electric Mobility Startup Yulu Raises $93 Million in Series C Funding

Bengaluru-based Yulu secured $93 million in Series C funding, consisting of $63 million in equity led by GEF Capital Partners and $30 million in debt.

The startup plans to expand its current fleet of 50,000 vehicles to 200,000 bikes over the next two years to support quick-commerce delivery demands.

Valued at approximately $170 million post-money, the company reported a seven-fold revenue growth between fiscal 2023 and fiscal 2026 while targeting profitability before interest and taxes next year.