Yulu secures $3.9 Mn funding from US-based VC firm Rocketship
Yulu, founded in 2017 by Amit Gupta along with RK Misra, Naveen Dachuri and Hemant Gupta, is a technology-driven mobility platform which uses IoT, ML, and AI for demand-supply management and efficient operations. Currently, Yulu is present in Bengaluru, New Delhi, Mumbai, Pune, Ahmedabad and Bhubaneswar.
Sailesh Ramakrishnan, Partner at Rocketship.vc said, "We believe that Yulu will revolutionize the daily commute of every Indian while having a significantly positive impact on the environment. We look forward to helping the amazing team at Yulu reach unprecedented scale on their path to creating a global leader in micro-mobility."
With operations either completely put on hold or severely restricted, all last-mile connectivity and two-wheeler and four-wheeler startups incurred huge losses during the lockdown period. Yulu had also partnered with essential delivery companies to mitigate the impact to some extent.
In mid-May, Yulu had restarted its operations in Bengaluru and was waiting for Mumbai and Delhi NCR to open up. Gupta claimed that the business is recovering well in Bengaluru and the startup expects the same from Delhi and Mumbai.