Yulu, India’s leading electric mobility-as-a-service (MaaS) platform, has revealed the impressive completion of its Series C funding round. This is the round that led Yulu to raise US $93 million by combining US$63 million in equity led by GEF Capital Partners and US$30 million in debt. The capital raise is considered to be the highest within the company’s history. This is because it allows Yulu to merge within the segment of defining leadership in hyper-local service sections by funding the next phase of enterprise growth.
Yulu is assumed to capture the accelerating demand for sustainable urban logistics because of being a vertically integrated electric vehicle (EV) ecosystem that runs on purpose-built hardware and proprietary technology and expansive infrastructure. The company has strategic partnerships with Bajaj Auto Ltd and Magna International Inc.
It is estimated that Yulu’s active fleet will increase to 200,000 EVs within the next two years, expand service hubs, and deepen strategic enterprise partnerships. Besides, Yulu will come into the verticals of intra-city mobility with the launch of Yulu Express, which works as a full-sized, high-payload electric scooter developed for bike taxis, e-commerce logistics, and express parcel delivery.
Industry-Leading Financial Performance & Unit Economics
With its Series B round in 2022, Yulu has scaled effectively within strong financial discipline, regulatory norms and localised tech innovation :
Top-Line Growth: The company’s overall revenue exceeded seven times from FY 2023 to FY 2026
Operational Profitability: The company sustained positive EBITDA since April 2025, and operates with strong unit economics.
Path to IPO: The enhanced profitability metrics pass through growth and operating leverage to run the public market with ease, which will help Yulu in the upcoming few years.
The company’s complete operational architecture derives industry-leading asset utilization in 12 primary metros like Bengaluru, Mumbai, Delhi-NCR and Hyderabad as well as eight franchise-operated regional markets. Yulu’s fleet estimates the emission of 2.5 million zero-emission kilometres and provides assistance to 7,50,000 doorstep deliveries daily.
For Immediate Release
Market Share: It powers more than 15% of all quick-commerce deliveries across India’s top four metropolitan centres.
Socio-Economic Impact: It assists in lowering operational overhead for workers and is estimated to increase their earnings by 30% to 40%.
Environmental Impact: It lessens the carbon footprint by around 2 million kilograms.
“Yulu was built on the conviction that hyper-local mobility requires
purpose-built vehicles along with suitable infrastructure, deep technology
integration, and uncompromising unit economics. Securing this Series C capital is a validation of
our business model, a massive headroom for demand, our execution
capability, and the platform maturity we have built. As we scale our fleet
fourfold over the next few quarters and launch high-capacity vehicle form
factors, Yulu is positioned to remain the definitive backbone of India’s urban
hyper-local mobility economy while transitioning seamlessly toward the
public markets,” said Amit Gupta, Co-founder & CEO of Yulu.
“Yulu has demonstrated that sustainable mobility can also be a compelling
and scalable business. Over the years, the company has built a differentiated platform with strong
operational capabilities, disciplined capital allocation and clear market
leadership in an increasingly important segment of urban transportation. As
India’s cities continue to evolve, we believe shared electric mobility will
become an integral part of urban infrastructure, and Yulu is exceptionally
well positioned to lead that transition.
We are delighted to partner with Yulu’s leadership team at this exciting stage
of the company’s journey. This investment reflects our high conviction that
Yulu is building one of India’s defining urban mobility companies and the
significant opportunity that lies ahead as the company scales its platform
across new markets and use cases,” said Alipt Sharma, Partner at GEF Capital.
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