Yulu raises $93m to quadruple EV fleet and launch e-commerce logistics push
The Bengaluru-based shared EV platform will expand from 50,000 to 200,000 vehicles, enter 20 cities within 12 months and scale Yulu Express for e-commerce delivery, bike taxis and parcel logistics.
What happened
Bengaluru EV mobility platform Yulu raised $93 million in equity, debt and secondary capital to expand its fleet from 50,000 to 200,000 vehicles, enter 20
Key facts
- $93 million total funding round
- $87.5 million Series C primary capital
- $30 million debt
- 50,000 current vehicles
- 200,000 targeted vehicles
What changed
Bengaluru EV mobility platform Yulu raised $93 million in equity, debt and secondary capital to expand its fleet from 50,000 to 200,000 vehicles, enter 20 cities and scale Yulu Express for e-commerce logistics, bike taxis and parcel delivery.
Why this matters
Yulu’s $93 million expansion creates a rapidly scaling EV last-mile delivery option for retailers and e-commerce operators seeking lower-cost, lower-emission urban fulfillment.
What to watch
- Named multi-city contracts with major e-commerce, quick-commerce or parcel-logistics companies.
- Yulu Express order volumes, active delivery riders, vehicle utilization and fleet uptime.
- Evidence of city-level profitability or contribution-margin improvement after expansion.
- Battery-swapping station growth and charging partnerships in new markets.
- State and city regulations affecting bike taxis, gig workers, shared mobility and commercial EVs.