YULU RAISES $93M SERIES C FOR E-BIKE EXPANSION

Yulu generates approximately 95% of its revenue from renting electric bikes to gig workers and delivery personnel. The funding positions the startup to scale operations amid intensifying competition in India's fast-growing quick-commerce sector, where platforms like Blinkit and Zepto deliver groceries and goods within minutes. The capital injection supports Yulu's expansion across Indian cities as demand for affordable, eco-friendly mobility grows among delivery workers. E-bike rentals have become critical infrastructure for last-mile logistics, with multiple startups competing for market share. The Series C round reflects investor confidence in mobility-as-a-service models tied to India's booming gig economy and e-commerce infrastructure. Yulu's business model—focused on serving workers rather than general consumers—has proven resilient as quick-commerce platforms expand their delivery networks and workforce.