Mobility Startup Yulu Eyes $80 Million Raise Riding on Quick Commerce Buzz
Shared mobility services firm Yulu is in discussions to raise $75-80 million (approximately Rs 650-700 crore) in funding, looking to capitalize on the growing quick commerce trend. The Bengaluru-based company has held talks with several global impact funds and private equity investors, according to sources familiar with the matter.
Existing backers Bajaj Auto and Magna International are also expected to participate in the fundraising round. Yulu has reportedly reached $30 million in annual recurring revenue (ARR), driven by rapid growth fueled by the expansion of quick commerce.
The company’s growth is attributed to the increasing demand for quick commerce services, which has positively impacted Yulu’s business. With the new funding, Yulu aims to further scale its operations and consolidate its position in the market.
The Economic Times reported that Yulu’s funding discussions come as the company continues to witness rapid growth. The investment from global impact funds and private equity investors is expected to help Yulu expand its services and enhance its offerings in the shared mobility space.
