News, 13 January 2025
Yulu Bikes, a shared mobility service provider located in Bengaluru, hopes to expand its presence in tier-2 and tier-3 cities through franchisee model.
With the support of 33 institutional investors, such as Bajaj Auto, Magna, and Rocketship, the business hopes to use several vehicle form factors to meet a wider range of demands. To far, Yulu Bikes has secured $12 million in debt financing from Northern Arc and the US International Development Finance Corporation (DFC) in addition to more than $123 million in equity capital.
The eight-year-old business is also investigating bike taxi services for cities with difficult topography and e-commerce deliveries, which involve hauling heavier weights. According to the CEO Amit Gupta, the company is now testing a mid-speed scooter with alpha users to assess how well it performs on Indian roads and in various weather conditions.
Regarding plans for expansion, Amit Gupta stated that Bajaj, which is present in roughly 70 countries, would soon assist Yulu in breaking into foreign markets. By this year, he said, the blue and grey motorcycles might include a co-pilot system that incorporates Gen AI into the user interface.
Although the two-wheeler EV industry is expected to develop, the Yulu CEO emphasized that it is difficult to design batteries that can be used in a variety of vehicles, charging stations, and places.
In Japan, manufacturers of two-wheelers gathered to decide on battery parameters. They even established a joint company for infrastructure related to manufacturing and battery switching. They had a standard from the beginning. Neither China nor India have taken this action. However, guys like us may set the standard in India. In the future, other OEMs may join networks like as Yuma from Yulu, creating a battery swapping environment similar to Star Alliance.
About Yulu Bikes
Yulu Bikes is an Indian electric bike-sharing service that aims to promote sustainable urban mobility. Launched in 2017, Yulu offers a fleet of electric bicycles and scooters designed for short-distance travel, catering to commuters in congested urban environments. The bikes are lightweight, eco-friendly, and equipped with smart technology, allowing users to locate and rent them via a mobile app.
Yulu’s model focuses on reducing carbon emissions, traffic congestion, and pollution in cities by providing an attractive alternative to traditional transportation methods. The service has gained popularity in cities like Bengaluru and has expanded to various other locations, aligning with India’s push towards greener transportation solutions. Additionally, Yulu is part of the growing trend of micro-mobility solutions, contributing to a shift towards more sustainable urban transport systems.
