Founded in 2017 and based in Bengaluru, Yulu began as a bike-sharing startup and pivoted toward serving the delivery economy during the COVID-19 pandemic. The company operates roughly 50,000 electric vehicles, logs about 1.6 million miles each week, and powers more than 750,000 deliveries per day. About 95% of Yulu’s revenue comes from renting electric bikes to gig workers on weekly subscriptions, with the remainder from station-based rentals in Bengaluru. Yulu currently operates in 12 Indian cities, running its own operations in Bengaluru, Mumbai, Delhi-NCR, and Hyderabad, and partners with franchisees in eight other markets while targeting roughly 20 cities within the next year. The startup is introducing a full-sized, higher-speed scooter called Yulu Express (about one-third of the planned 200,000-vehicle fleet) and is moving toward profitability before interest and taxes next year after achieving positive EBITDA in the last financial year. Yulu reported revenue growth of seven-fold between fiscal 2023 and fiscal 2026, though it did not disclose specific revenue figures.

Total raised

$241M

Funding rounds

12

Latest round

Debt Financing

Latest activity

Aug 2026