Electric mobility startup Yulu,, is raising ₹70 crore (~$8.2 million) through a rights issue — and here’s the twist: the money is coming from its own co-founders and early investors.
That’s right — no flashy VC round this time. Just the team backing itself.
What’s a Rights Issue?
A rights issue is when a company gives its existing shareholders the option to buy more shares — usually at a lower price.
It’s a quiet but smart way to raise funds without giving up control to new investors.
So yeah, Yulu is keeping it in the family.
Why is Yulu Raising Money Now?
The EV market in India is heating up, and Yulu wants to stay ahead. Here’s what they’re planning with this fresh cash:
- Expand its electric two-wheeler fleet
- Add more battery-swapping stations across cities
- Support the rising demand from partners like Swiggy, Zomato, and Zepto
Basically, they’re gearing up to power India’s last-mile delivery and ride-sharing future.
This isn’t Yulu’s first raise:
- In Feb 2024, they raised ₹653 crore ($82 million) from Bajaj Auto and Magna International
- Now, they’re also in talks to raise $75–80 million more from new and existing investors
What’s impressive?
Yulu has already hit EBITDA profitability and is generating $30M+ in annual recurring revenue (ARR) — rare for an Indian EV startup.
