Shared mobility startup Yulu has received a fresh capital infusion of ₹70 crore, secured directly from its co‑founders, to strengthen its expansion plans and support its path toward positive cash flow and an eventual initial public offering in FY 2026
📊 Why the Raise?
- Scaling fleets – Yulu is rapidly growing, with over 40,000 e‑two‑wheelers currently deployed and aiming for 100,000 EVs by 2025
- EBITDA turning positive – The company has achieved profitability at the operational level with $30 million ARR, driven by rising demand from quick commerce deliveries
- Pre‑IPO positioning – Building capital ahead of its planned listing in FY 2026, this internal raise signals strong founder conviction.
🔍 Financial & Strategic Context
- Previously, Yulu had raised major rounds including ₹160 crore in Feb 2024 from Magna International and Bajaj Auto livemint
- Its Series B ($82M) round in 2022 brought in ₹653 crore, supported by existing strategic stakeholders
- Cumulative equity funding now exceeds $123 million, along with $12 million in debt from DFC
🌟 What’s at Stake
- Product & tech investment — Capital will help enhance battery-swapping infrastructure and deliver better user experience.
- Operational resilience — Internal funding reduces dependency on external equity amid global startup funding pressures.
- IPO readiness — Founders injecting personal capital build investor confidence and signal commitment to growth targets.
🔮 Future Outlook
- Rapid fleet expansion toward the 100K EV milestone.
- Deepening BaaS (Battery-as-a-Service) and MaaS tech integration.
- IPO preparation with a clearer runway and stable financial profile for FY 2026 listing ambitions.
✅ Bottom Line
Yulu’s ₹70 crore raise from co‑founders highlights robust founder confidence and commitment as the startup scales fleets, strengthens tech infrastructure, sustains EBITDA positivity, and stays on track for a 2026 public offering.
