Electric mobility platform Yulu Bike has raised US$93 million in its Series C round, with US$63 million in equity led by GEF Capital Partners and US$30 million in debt. This is the largest funding in company history, strengthening its position in quick delivery and hyperlocal services while supporting enterprise expansion.
Yulu Bike operates as a vertically integrated ecosystem with purpose built hardware, proprietary technology, and energy infrastructure, backed by partners like Bajaj Auto and Magna International. The company plans to use the funds to quadruple its active fleet to 200,000 electric vehicles within two years.
Fleet Expansion
The new capital will help expand service hubs and deepen enterprise partnerships in current regions. Yulu also plans to enter new intra city mobility segments with Yulu Express, a high payload electric scooter designed for e commerce logistics, bike taxis, and parcel delivery.
Financial data shows strong efficiency since the Series B round in 2022. Revenue grew sevenfold between FY23 and FY26, while the company has maintained positive EBITDA since April 2025. These results are expected to support readiness for public markets in the coming years.
Yulu Bike Zones
Company operates across 12 major cities and 8 franchise markets, with strategically located app-based Yulu Zones, Swapping Stations, and Customer Centres across Delhi NCR—including high-demand hubs like Connaught Place, Laxmi Nagar, Noida Sector 63, Dwarka, and Gurugram. This widespread regional network records 2.5 million zero-emission kilometres and handles more than 750,000 doorstep deliveries daily.
Market data shows Yulu powers over 15% of quick commerce deliveries in the top four metros. Its model also lowers costs for gig workers, boosting their earnings by 30–40 percent, while reducing about 2 million kilograms of carbon dioxide emissions each month.
What Leadership Think
Amit Gupta, Co Founder and CEO, said brand was built on the belief that hyperlocal mobility needs purpose built vehicles, infrastructure, and strong unit economics. He added that the Series C funding validates the model, demand, and execution capability.
Alipt Sharma, Partner at GEF Capital, said company has shown that sustainable mobility can be a scalable business. He noted that shared electric mobility will become part of urban infrastructure as cities evolve, positioning Yulu to lead the transition.
About Company
Yulu is an electric mobility as a service platform offering shared micro mobility and delivery solutions. It operates through integrated hardware, software, and energy infrastructure networks.
This Series C funding marks a turning point for Yulu, giving it the resources to scale its fleet and expand into new mobility segments. With strong revenue growth, positive EBITDA, and deep market penetration.
Brand is positioned to lead India shared electric mobility sector. The investment also indicated growing confidence in sustainable transport models that combine profitability with environmental impact.
