Yulu Raises $93 Million to Fuel Electric Bike Expansion in India's Booming Quick Commerce Market

Yulu has secured $93 million in fresh capital to scale its electric two-wheeler operations across India.

The round includes $63 million in equity led by GEF Capital Partners plus $30 million in debt financing.

Quick Commerce Boom Fuels E-Mobility Demand

India's quick commerce sector is expanding rapidly with platforms racing to deliver groceries and goods in minutes.

Yulu shifted focus during the pandemic from urban bike sharing to serving gig delivery workers on weekly subscriptions.

The company now operates around 50,000 electric vehicles that cover 1.6 million miles weekly and support over 750,000 deliveries daily.

Yulu aims to grow its fleet to 200,000 bikes within two years while introducing faster scooters for longer routes.

Revenue has grown seven times from fiscal 2023 to 2026 and the firm targets profitability before interest and taxes next year.

This funding supports operations in 12 cities with plans to reach about 20 markets including Chennai and Pune.

Gig workers benefit from affordable access to vehicles without upfront purchase costs boosting efficiency in the delivery economy.

Electric bikes help reduce urban pollution and align with India's push toward sustainable transportation solutions.

Overall the deal signals strong investor confidence in e-mobility infrastructure supporting the nation's logistics growth.

Written by

Journalist at BEAMSTART. I write about breaking business news in the region.

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