India’s Yulu raises $93M as quick-commerce boom fuels e-bike demand
Indian electric mobility startup Yulu has raised $93 million in a Series C funding round to expand its fleet of electric two-wheelers. The company plans to scale its operations to 200,000 bikes to support the growing demand from India's quick-commerce delivery sector.
Why it matters
The investment highlights the rapid growth of the quick-commerce economy in India and the increasing reliance on electric vehicle infrastructure for last-mile logistics.
As India’s quick-commerce platforms race to deliver everything from groceries to smartphones in minutes, electric mobility startup Yulu has seized the boom, raising $93 million in fresh funding.
The Bengaluru‑based startup offers electric two‑wheelers on weekly subscription plans, so delivery drivers can jump straight into the platform, without buying their own vehicle. With around 50,000 electric vehicles in its fleet, Yulu reports that it logs about 1.6 million miles each week and powers more than 750,000 deliveries a day. The new funding will let Yulu grow that fleet to 200,000 bikes in the next two years and launch faster electric two-wheelers aimed at different logistics use cases.
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