Yulu Revenue, Valuation, Funding & Investors
Yulu is valued at $170M as of August 2026.
Last Yulu valuation
$170M
Series C · Aug 2026
Last Yulu funding round
$63M
Series C · Aug 2026
Yulu revenue
$30M
Series B · Feb 2024
Key investors in Yulu
Magna International
Bajaj Auto Finance
Blume Ventures
Wavemaker Partners
Rocketship.vc
GEF Capital Partners
About Yulu
Yulu is a Bengaluru-headquartered micromobility provider offering dockless electric bikes and scooters for urban short-distance travel in India. Founded in 2017, the company operates in over 10 cities including Mumbai, Delhi, and Pune, with a fleet exceeding 20,000 vehicles equipped with IoT for real-time tracking and AI for demand prediction. Yulu's DeX line serves last-mile delivery for partners like Zomato and Swiggy, while battery-swapping stations ensure 24/7 availability. The service integrates with public transit systems to cut emissions in congested metros.
Founded
2017
HQ
BangaloreWebsite
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Usage-based, Subscription
Revenue
$30M (Feb 2024)
Valuation
$170M (Aug 2026)
Yulu Valuation
Yulu is currently valued at $170M, based on its Series C in August 2026.
The $63M round was led by GEF Capital Partners.
Yulu's valuation has grown 2.7x from $63M at its seed round in July 2018 to $170M in August 2026, across 5 priced rounds.
Yulu valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2026 | Series C | $170M | - |
| Feb 2024 | Series B | $210M | 7.0x |
| Sep 2022 | Series B | $182M | - |
| Jun 2020 | Series A | $78M | - |
| Jul 2018 | Seed | $63M | 2.1x |
Yulu Revenue
Yulu's latest recorded revenue is $30M, as of its Series B in February 2024. At a $210M valuation, that implies a 7.0x revenue multiple.
Revenue moved from $30M in July 2018 to $30M in February 2024, while the revenue multiple moved from 2.1x to 7.0x.
Yulu revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2024 | $30M | $210M | 7.0x | Series B |
| Jul 2018 | $30M | $63M | 2.1x | Seed |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Yulu Funding History
Yulu has raised a total of $187M across 8 funding rounds.
Yulu's first fundraising round was a $7M seed round in July 2018. The most recent completed round was a $63M Series C in August 2026.
Yulu funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2026 | Series C | GEF Capital Partners (lead) | $63M | $170M | Yulu raised USD 93 million in a Series C round led by GEF Capital Partners, consisting of USD 63 million in equity and USD 30 million in debt; about USD 5.5 million of the equity was used for a secondary share purchase from seed investors, and the deal valued Yulu at about USD 170 million post-money. Existing investors Bajaj Auto and Magna International did not participate after waiving pre-emptive rights, which allowed GEF to secure its target ownership stake. The financing is intended to support Yulu’s expansion of its fleet from about 50,000 to 200,000 electric two-wheelers over the next two years, including its higher-speed Yulu Express model for longer-haul e-commerce deliveries, bike taxis, and parcel services, while also expanding service hubs and deepening enterprise partnerships. Yulu is a Bengaluru-based electric mobility-as-a-service company focused on last-mile urban transport and delivery use cases. Its fleet powers a meaningful share of quick-commerce deliveries in India’s top metros, and this was its largest funding round. The strategic rationale for the round is tied to surging quick-commerce demand and Yulu’s effort to scale operations across enterprise delivery and mobility segments. |
| Jul 2025 | Strategic investment | Magna International (lead) | $3M | - | Yulu operates as an electric mobility startup in Bengaluru, India, providing shared electric two-wheelers focused on last-mile delivery and gig workers with products like Yulu Miracle and Yulu DeX. The company raised INR 25 Cr (about $3 Mn) from Magna International via a Series B3 rights issue of 1,826 CCPS at INR 1,41,226.3 per share in July 2025. This followed an initial approval for INR 70 Cr from cofounders and investors, but closed smaller at INR 25 Cr from Magna alone. Yulu reported revenue from operations of Rs 119.9 crore in FY24, up 188% year-over-year, driven by demand in quick commerce and hyperlocal deliveries. Despite revenue growth, losses increased 51% to Rs 142.8 crore due to rising expenses. The company aims to expand to 100,000 EVs on-ground by year-end and plans a $100 Mn Series C round in a mix of equity and debt. Previously, Yulu's valuation stood at USD 210 million in a February 2024 round raising USD 19 million from Bajaj Auto and Magna International. The latest funding supports scaling gig-economy e-scooter operations amid growing sustainable mobility demand in India. |
| Feb 2024 | Series B | Bajaj Auto Finance; Magna International | $19M | $210M | Yulu is a Bengaluru-based shared electric mobility startup offering electric two-wheelers for short urban commutes and deliveries, focusing on sustainable mobility-as-a-service (MaaS). In February 2024, it raised approximately $19-19.25 million in a Series B extension from existing investors Bajaj Auto and Magna International, part of its ongoing Series B after a prior $82 million raise in 2022 and $9.1 million debt. The funds aimed to expand fleet, operational locations, and product/technology innovations amid surging demand for green deliveries and urban mobility. The round valued Yulu at $210 million post-money, consistent across multiple reports referencing the February 2024 transaction. Bajaj Auto and Magna, holding 18-19% stakes each, participated to maintain ownership below 20% and avoid associate company reporting requirements. Yulu's EVs have enabled over 450 million kilometers of green rides and 80 million green deliveries, transforming urban delivery with cost reductions up to 40% for riders through efficient designs. Financially, Yulu reported operating revenue growth from Rs 42.8 crore in FY23 to Rs 122.7 crore in FY24 (2.6x increase), though net losses widened to Rs 142.8 crore due to fleet and infrastructure investments. The company plans a $80-100 million Series C later, targeting quick commerce expansion and new geographies, with recent raises like $3 million from Magna in July 2024 via rights issue at aligned pricing. |
| Sep 2022 | Series B | Magna International (lead); Bajaj Auto Finance | $81M | $182M | Yulu is a Bengaluru-based shared electric mobility company providing electric two-wheeler (e-scooter and e-bike) rental services for urban last-mile delivery and commuting. The company combines fleet management with gig-economy operations, enabling environmentally friendly deliveries and job creation through technology-driven platform operations. In September 2022, Yulu raised $82 million in Series B funding led by Magna International (Canadian auto-parts manufacturer) with co-investment from Bajaj Auto Limited (Indian automotive conglomerate), following an earlier Series B tranche. The company was valued at $182 million post-money as of September 2022. Additionally, Yulu secured $9.1 million in debt financing from the U.S. International Development Finance Corporation. For the fiscal year 2023, Yulu reported revenue of Rs 42.8 crore (approximately $5.1 million USD equivalent), representing a 40% year-over-year increase; however, losses widened to Rs 95 crore due to elevated operational expenses. The company planned to use Series B proceeds to expand its vehicle fleet, scale to new operational locations, and invest in product and technology innovations. Co-founder and CEO Amit Gupta highlighted strong demand momentum in shared electric mobility services. Yulu subsequently pursued Series C funding targeting $100 million in capital at a higher valuation, with the company reporting improved profitability metrics and operational efficiencies by 2024-2025. |
| Jun 2020 | Series A | Rocketship.vc (lead) | $4M | $78M | Yulu is a Bengaluru-based micro-mobility platform providing shared bicycles and electric bikes for urban first- and last-mile connectivity via a mobile app. In June 2020, Yulu raised ₹300 million (~$3.95 million) led by US-based Rocketship.vc, with participation from existing investors. The funds were intended to strengthen Yulu’s platform and technology for rapid scaling across India. Prior to this round, Yulu had raised more than $20 million from investors including Bajaj Auto Ltd, Blume Ventures, 3one4 Capital, and Wavemaker. Post-lockdown, Yulu reported a surge in rides due to demand for single-seater, sanitized vehicles amid COVID-19 concerns. |
| Feb 2020 | Series A | Wavemaker Partners | $1M | - | - |
| Nov 2019 | Series A | Bajaj Auto Finance (lead) | $8M | - | Yulu is a Bengaluru-based shared e-mobility service provider offering dockless electric two-wheelers for last-mile connectivity in cities including Bengaluru, New Delhi, Pune, Greater Mumbai, and Bhubaneswar. The company secured $8 million in Series A funding led by Bajaj Auto on November 26, 2019. Bajaj Auto will co-design and manufacture electric two-wheelers exclusively for Yulu's shared micro-mobility operations and consider facilitating vehicle finance needs through Bajaj Finserv for large-scale deployment. The investment will strengthen Yulu's mobility platform, deepen technology solutions, and support rapid expansion. Yulu plans to scale its fleet to 100,000 electric two-wheelers by December 2020, alongside building an extensive network of battery-swapping stations. Existing investors contributed an additional $2 million in this round. The partnership addresses urban mobility challenges like congestion and pollution while boosting first- and last-mile connectivity with mass rapid transit systems. |
| Jul 2018 | Seed | Blume Ventures (lead) | $7M | $63M | Yulu is a Bengaluru-based electric scooter rental startup offering shared mobility services. In a funding round around July 2018, Yulu raised ₹30 crore from Blume Ventures, with the company's post-money valuation reaching ₹585.2 crore. Blume Ventures acted as the lead investor in this early-stage round. |
Who has invested in Yulu?
6 investors have backed Yulu across its funding rounds, including Magna International, Bajaj Auto Finance, Blume Ventures, Wavemaker Partners, Rocketship.vc and GEF Capital Partners.
Lead investors include GEF Capital Partners, Magna International, Rocketship.vc, Bajaj Auto Finance and Blume Ventures.
Yulu Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| Pune | 3 | Lead | Nov 2019 | |
 Chicago, IL | 3 | Lead | Sep 2022 | |
 San Francisco, CA | 1 | Lead | Jun 2020 | |
| Washington, DC | 1 | Lead | Aug 2026 | |
This data is available for Pro users. Sign up to see all 6 Yulu investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialYulu Competitors
Yulu competitors include listed companies like EROAD and Daea Ti, and private ones like Ridecell, StradVision, InMotion Global (AscendTMS software unit) and Prozo.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| San Francisco, CA | Private | - | - | $253M | - | |
 New Zealand | Publicly listed | $107M | ($62M) | $113M | 1.1x | |
 Seoul | Private | $32M | - | $279M | 8.7x | |
| Tampa, FL | Private | - | - | $168M | - | |
| South Korea | Publicly listed | $111M | $20M | $166M | - | |
| Gurgaon | Private | $21M | - | $177M | 8.4x |
Yulu Public Comps
Yulu is still privately-owned, but its public comps include Martı, Daea Ti, Kore Group, Mitac Digital Technology, Acusensus, Quartix, Merlin, Zumtobel, Asterasys and Gefran.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $39M | ($23M) | 6.8x | 3.7x | (11.6x) | 111.1x | |||
| $111M | $20M | 1.5x | - | 8.4x | - | |||
| $286M | $63M | 1.5x | 1.5x | 6.8x | 6.8x | |||
| $262M | $14M | 0.2x | 0.2x | 4.5x | - | |||
| $61M | ($9M) | 2.2x | 2.1x | (14.8x) | 20.8x | |||
| $48M | $16M | 2.9x | 2.7x | 8.7x | 7.9x | |||
| $1M | ($52M) | 144.8x | 21.9x | (3.4x) | (2.2x) | |||
| $1.2B | $90M | 0.3x | 0.3x | 4.1x | 3.4x | |||
This data is available for Pro users. Sign up to see all Yulu competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Yulu
| When was Yulu founded? | Yulu was founded in 2017. |
| Where is Yulu headquartered? | Yulu is headquartered in Bangalore, India. |
| Is Yulu publicly listed? | No, Yulu is a private, VC-backed company. |
| What is Yulu's valuation? | Yulu was last valued at $170M in its Series C in August 2026. |
| How much funding has Yulu raised? | Yulu has raised $187M across 8 funding rounds. |
| What was Yulu's last funding round? | Yulu's last funding round was a $63M Series C in August 2026, led by GEF Capital Partners. |
| Who are Yulu's investors? | Yulu's investors include Bajaj Auto Finance, Magna International, Rocketship.vc, GEF Capital Partners, Blume Ventures and Wavemaker Partners. |
| What is Yulu's revenue? | Yulu's latest recorded revenue is $30M (February 2024). |
| What is Yulu's revenue multiple? | Yulu's latest valuation implies a 7.0x revenue multiple ($210M valuation on $30M of revenue). |
| Which companies are comparable to Yulu? | Companies comparable to Yulu include Ridecell, EROAD, StradVision, InMotion Global (AscendTMS software unit), Daea Ti and Prozo. |
See companies similar to Yulu
Start Your
Free Trial Today
Try Multiples for free for 3 days. Got questions or need a demo? Schedule a call with us below.