India’s Yulu raises $93M as quick-commerce boom fuels e-bike demand
Indian electric mobility startup Yulu raised $93 million in a Series C round to expand its fleet and introduce faster e‑two‑wheelers. The funding, comprising $63 million in equity and $30 million in debt, values the company at about $170 million post‑money. Yulu plans to grow its fleet to 200,000 vehicles and reach roughly 20 Indian cities within a year.
- ▪Yulu secured $93 million in new financing, with $63 million in equity led by GEF Capital Partners and $30 million in debt.
- ▪The company currently operates around 50,000 electric two‑wheelers and aims to increase this to 200,000 within two years.
- ▪Yulu’s revenue is primarily derived from weekly subscription rentals to gig workers, accounting for about 95% of its income.
- ▪A new high‑speed electric scooter, the Yulu Express, is being trialed in Bengaluru and three other cities as part of the expansion plan.
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| Original publisher | TechCrunch |
| Canonical URL | https://techcrunch.com/2026/08/11/indias-yulu-raises-93m-as-quick-commerce-boom-fuels-e-bike-demand/ |
| Publication time | Wed, 12 Aug 2026 04:30:00 +0000 |
| Retrieval time | 2026-08-12T04:30:44.328Z |
| Last seen | 2026-08-12T04:30:44.328Z |
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Opening excerpt (first ~120 words) tap to expand
As India’s quick-commerce platforms race to deliver everything from groceries to smartphones in minutes, electric mobility startup Yulu has seized the boom, raising $93 million in fresh funding. The Bengaluru‑based startup offers electric two‑wheelers on weekly subscription plans, so delivery drivers can jump straight into the platform, without buying their own vehicle. With around 50,000 electric vehicles in its fleet, Yulu reports that it logs about 1.6 million miles each week and powers more than 750,000 deliveries a day. The new funding will let Yulu grow that fleet to 200,000 bikes in the next two years and launch faster electric two-wheelers aimed at different logistics use cases.
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