Electric mobility platform Yulu has secured $93 million in Series C funding to quadruple its electric vehicle fleet to 200,000 units and prepare for a future public listing.

Key Points

• The funding round includes $63 million in equity led by GEF Capital Partners and $30 million in debt.
• Yulu plans to expand its service hubs and launch Yulu Express, a high-payload electric scooter designed for e-commerce and parcel delivery.
• The company maintains strategic partnerships with Bajaj Auto and Magna International to support its vertically integrated ecosystem.
• Yulu currently operates across 12 primary Indian metros, including Bengaluru, Mumbai, Delhi-NCR, and Hyderabad.
• The firm reported a sevenfold revenue increase since fiscal year 2023 and has sustained positive EBITDA since April 2025.

Why it Matters

This capital injection positions Yulu to dominate India's growing urban logistics sector by scaling its infrastructure and diversifying into high-capacity delivery vehicles. Achieving consistent profitability and operational scale provides a clear pathway for the company to transition into the public markets.