Yulu: Revolutionizing Urban Mobility with Shared Electric Vehicles...!!!
Yulu is an electric mobility service designed to address first mile, last mile, and short-distance commuting challenges in urban areas in an environmentally friendly way. Here are some key points about Yulu bikes and their uses.
Yulu, an innovative mobility solutions company based in Bengaluru, India, was founded in August 2017 by Amit Gupta, RK Misra, Naveen Dachuri, and Anuj Tewari. With a mission to provide sustainable and efficient urban transportation through shared low-speed electric vehicles (EVs), Yulu operates in several Indian cities, including Bengaluru, Mumbai, Delhi, Gurugram, Noida, and Hyderabad. The company has expanded its presence through local partnerships in cities like Indore, Kochi, Tirunelveli, Pondicherry, Vadodara, and Kolkata.
Yulu boasts a fleet of 45,000 dockless shared EVs, attracting over four million users who have collectively traveled 800 million kilometers, saved 27 million kg of CO2 emissions, and made 160 million green deliveries. The company's success can be attributed to its strategic partnerships and the support of Indian regulators.
A notable achievement for Yulu is its partnership with Canadian auto parts manufacturer Magna International to launch a battery-as-a-service (BaaS) business called Yuma Energy. Yuma Energy supports Yulu riders with battery swaps through its network of stations, handling over a million swaps every month. Yulu's investors include Bajaj Auto, Magna International, Wavemaker, Rocketship, 3One4, and Blume.
Yulu's journey began with the goal of addressing urban mobility challenges such as congestion and pollution. The company's first operations started in Bengaluru and Pune in January 2018, followed by Mumbai and Bhubaneswar later that year. In 2019, Yulu introduced its first shared electric vehicle, the Miracle, in Bengaluru and New Delhi. The Miracle, a low-speed EV with a 250-watt motor and a top speed of 25 km/h, is designated as a non-motorized vehicle under Indian traffic rules.
During the Covid-19 pandemic, Yulu observed a surge in delivery executives using its EVs for last-mile deliveries. This led to the company's continued growth and expansion into new cities. Yulu's business model focuses on providing flexible, cost-effective, and clean commuting alternatives to internal combustion engine vehicles. The company leverages IoT, machine learning, AI, and cloud computing to deliver a seamless experience via a user-friendly app. Users can book a ride through the iOS or Android app and unlock the smart bikes using QR codes.
Yulu's revenue model includes pay-per-use for short-term rentals and long-term rental services. The company's revenues reached Rs 42.8 crore ($5.13 million) in FY2023, and it has announced plans for an initial public offering (IPO) in FY2026. Yulu became India's largest EBITDA profitable shared electric mobility company in 2024 and achieved an Annual Recurring Revenue (ARR) of $30 million in FY2025.
The company's founders have a strong background in the tech industry, with Amit Gupta co-founding InMobi, a leading mobile advertising platform. Yulu's success reflects the growing demand for environmentally viable transportation solutions in urban areas. The company continues to innovate and expand its services to meet the evolving needs of its users and contribute to a greener future.
In summary, Yulu is a pioneering company in the shared electric mobility space, offering sustainable and efficient urban transportation solutions. With its innovative approach, strategic partnerships, and commitment to reducing pollution and congestion, Yulu is making a significant impact on urban mobility in India and beyond.
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