Yulu is a leading electric rental bike startup with a mission to make urban mobility seamless all over India. They have taken initiative to reduce pollution and traffic congestion with their electric bikes.
Accessibility, Availability, and Affordability are their three guiding principles that what they are implementing in their rental bike startup.
Electric Bike Rental Startup Yulu
This Bengaluru based startup has been founded by Amit Gupta, RK Misra, Naveen Dachuri, and Hemant Gupta in August 2017.
Yulu is a technology-driven startup with the help of Yulu app anyone can rent electric bikes for Yulu available zones. It provides eco-friendly UMaaS – Urban Mobility as a service across private or public mode of transportation.
They are Using Micro Mobility Vehicles (MMVs) which can be booked via the Yulu app that is available for android as well as ios users.
Yulu is doing business in India with their two major products Yulu Miracle which is electric bike rental service and the other one is Yulu Move which is a bicycle renting service in India. They are currently operating in Bangalore, Delhi, Pune, Greater Mumbai, and Bhubaneswar.
Yulu has partnered with many brands like Infosys, Intel, Persistent, SAP, Uber, Wipro, Zolo, RentMyStay, WeWork, Zomato, Asian Institute of Design, Awign, Cure.fit, Homelane.com, etc for smooth operations of his MMV bike rental business in India.
Till now Yulu has raised $20 Million in funding from Bajaj Auto finance, Wavemaker partners, 3one4 capitals, Blume Ventures and rocketship.vc.
Funding Break down:
- Round 1 Series A funding of $8 Million from Bajaj Auto Finance
- Round 2 Seed funding of $7 Million from Wavemaker partners, Incubate fund, Blume Ventures, AET fund, 3one4Capital
- Round 3 Series A funding of $1 Million from Wavemaker partners
- Round 4 Series A funding of $4 Million from Rocketship.vc
How Yulu Make Money
Yulu is earning from its electric bike and cycle rental services, also they have partnered with corporates and businesses for regular business and subscription based model.
Advertising on offline transit media also help their business function smoothly.