• Yulu raised $93 million in fresh funding: $63 million in equity led by GEF Capital Partners and $30 million in debt financing.

  • The Series C round valued Yulu at about $170 million post-money, according to people familiar with the matter; CEO Amit Gupta declined to comment on the valuation and did not dispute it.

  • Yulu’s fleet is about 50,000 vehicles, logging roughly 1.6 million zero-emission miles weekly and supporting more than 750,000 deliveries a day.

  • About 95% of Yulu’s revenue comes from renting electric bikes to gig workers on weekly subscriptions; Yulu expects to turn profitable before interest and taxes next year after positive EBITDA last fiscal year.

  • Yulu plans to grow its fleet to 200,000 bikes over the next two years and launch Yulu Express, a higher-speed electric scooter for longer-haul deliveries; about 500 are already running in Bengaluru and being trialed in three additional cities. The manufacturer of Yulu Express was not disclosed.