Yulu Series C funding $93 million valuation GEF Capital
Bengaluru-based electric mobility-as-a-service (MaaS) platform Yulu has raised $93 million in Series C funding through a mix of equity and debt. The round comprised $63 million in equity led by GEF Capital Partners, with participation from One Planet Partners, alongside $30 million in debt.
As per Entrackr’s estimates, Yulu’s post-money valuation stood at around $180–200 million. The equity portion amounted to around Rs 547 crore through the allotment of Series C and C1 compulsorily convertible preference shares.
What Yulu does
Founded in 2017 by Amit Gupta, Anuj Tewari, RK Misra, and Naveen Dachuri, Yulu operates a technology-enabled fleet of electric two-wheelers for urban mobility and last-mile delivery. Its fleet is currently around 50,000 vehicles.
Newsletter
The corridor, every morning.
Funding rounds and cross-border capital moves, one email, five minutes.
The company aims to quadruple its fleet to 200,000 electric vehicles over the next two years and plans to expand its presence to about 20 cities over the next year. In its latest available FY25 filings, operating revenue jumped 98% to Rs 237.4 Cr, while net loss decreased 12% to Rs 126 Cr.
Cap table shifts
Following the latest allotment, GEF Capital Partners acquired a 31.29% stake in Yulu, followed by Magna International Inc. at 14.38% and Bajaj Auto at 12.38%. One Planet Partners holds a 6.13% stake. Yulu’s co-founders collectively retain a 22.25% stake, with Amit Gupta holding 8.90%.
Per the filings, Yulu plans to deploy the fresh capital to strengthen its capital base, support operations and strategic initiatives, and fuel future growth. The company also plans to expand into new urban mobility use cases and support its potential public market listing plans.
More in Funding
