Yulu decides to focus on people mobility again

Firm says Bajaj partnership to offer access to international markets, R&D

- Alisha Sachdev

80% of its revenue comes from its deliveries business

Bajaj Auto-backed electric ride-sharing platform Yulu, which started off as an e-bike rental company but pivoted to goods transport in the aftermath of the pandemic, is looking to get back to moving people around, through a big supply push it'll make after it closes a Series-C funding round.

The Bengaluru-based startup is looking to raise $70-$80 million next quarter in a Series-C round, after having just received $19 million from existing investors Bajaj Auto and Magna.

While Yulu's pivot to facilitating last-mile deliveries paid off, with the segment now accounting for 80% of its revenues, it is now looking to double down on its original founding principle - e-bike rentals for people by the minute, which according to co-founder Amit Gupta, generate positive unit economics for the business, better than its deliveries business.