Yulu, the Bengaluru-based electric mobility startup, has raised ₹257 crore (~$31 million) from Magna International, a global auto parts giant. This marks a significant push for Yulu’s mission to make sustainable urban mobility accessible and affordable across India.
Why This Funding Matters
🚀 Boosts India’s EV Infrastructure: The funds will help Yulu expand its fleet of electric two-wheelers and strengthen its battery-swapping network, making it easier for daily commuters to shift to electric mobility.
🤝 Strategic Partnership with Magna: Magna, with its expertise in automotive manufacturing and supply chain, will support Yulu in scaling its operations efficiently, ensuring consistent quality and innovation.
🌱 Sustainable Urban Mobility: Yulu’s EVs have already reduced over 20 million kg of CO2 emissions. With this new funding, Yulu aims to triple its fleet in the next 12-18 months, contributing further to India’s climate goals.
Yulu’s Journey So Far
Founded in 2017 by Amit Gupta and team, Yulu has become a leader in micro-mobility solutions, offering electric bikes and scooters for short-distance travel in cities like Bengaluru, Delhi, and Mumbai. The startup leverages IoT-enabled vehicles and a robust battery-swapping ecosystem to provide affordable rides to daily commuters.
What’s Next for Yulu
With the fresh funds, Yulu plans to:
✅ Expand to more cities across India
✅ Increase its battery-swapping stations for seamless user experience
✅ Strengthen technology and operations to reduce downtime and enhance fleet efficiency
Yulu’s focus on affordability and accessibility positions it as a key player in India’s growing EV landscape, aligning with the government’s push towards electric mobility and sustainable transportation.
Why Marketers Should Care
The rise of startups like Yulu signals shifting consumer behavior towards sustainable, tech-enabled solutions. For brands and marketers, this is a clear cue to align campaigns with green initiatives and tech-driven solutions to capture the evolving urban audience.
If you are looking to grow your digital presence and align your marketing with emerging tech and sustainability trends, I can help you craft strategies that convert.
📩 DM or email me to discuss how we can build your brand in the evolving market.
