InvestorQ : Can you throw some light on the start-up Yulu Bikes and its fund raising plans?
Niti Shenoi made post

Can you throw some light on the start-up Yulu Bikes and its fund raising plans?

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Archita Jajjoo answered.
4 months ago
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Yulu Bikes is an electric bicycle and scooter rental start-up targeting the first and last mile connectivity requirements of commuters. This is facilitated by battery-powered two-wheelers. The start-up began operations in Bangalore in 2017 and has now expanded its presence to the cities of Pune, Delhi and Mumbai among others.

Recently, Yulu Bikes raised Rs.30 crore in equity funding from a clutch of investors led by US-based venture capital firm Rocketship. This equity infusion will be used to strengthen the agnostic platform of Yulu, offering more sophisticated technology solutions and enabling rapid expansion. This comes on top of $20 million Yulu has already raised.

Yulu currently has more than 18,000 electric bikes on the road and it is country’s largest EV-led micro-mobility platform. Its recovery has already been quite rapid post the lockdown and the funds would be useful in managing growth. Despite constraints on charging infrastructure, Yulu has used IOT driven infrastructure to bridge the gap.

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