India’s Electric Bike Rental Startup Yulu Inks Strategic Partnership with Bajaj Auto, Has Raised $8 Million

Yulu is a Bangalore based electric platform for bike sharing which is maintaining a strategic partnership with the Uber. Yulu, today has announced that they have won the support of one of the greatest automakers in India. In an interview, this 2-year-old startup company’s chief executive named Amit Gupta told to TechCrunch that said that they had entered into an important partnership with the Bajaj Auto which had funded them $8 million in the Series A financing round, and as the part of this partnership, Bajaj would manufacture and co-design the two-wheelers of Yulu for future generation. He also said that Yulu operated in the Bengaluru, and recently it has entered into the portions of Mumbai as well as New Delhi. Yulu has raised an amount of $18.5 million from the VCs to date and has also raised money in dept but declined to expose the amount.

Yulu, on its platform is maintaining more than 3000 electric bikes. Through the Yulu’s app, a customer can easily rent the bike only for 14 cents for an hour. Gupta also said that they were planning to have over 100,000 two-wheelers in the fleet by 2021, and that’s where their partnership would appear handy. He said that Bajaj had better understandings of Indian context, and Bajaj knew the micro-mobility as well as share-mobility spaces. The partnership was bringing together a combined learning of creating the Yulu’s network.

The Managing Director of the Bajaj named Rajiv Bajaj said that they found a committed and experienced partner in a short time, and that’s why they had decided to partner with Yulu in their journey.

Show More

Shahina Khatun

Shahina is a Web Developer, Content Writer, SEO Expert and Social Media Marketer.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button