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Yulu Bikes eyes growth in non-metro towns with franchise model
Economic Times
·
6m ago
Medial
Yulu Bikes, a Bengaluru-based shared mobility service, plans to expand in tier-2 and -3 cities using a franchise model, aiming to grow its 45,000-vehicle fleet to 100,000 by year-end. Supported by major investors like Bajaj Auto, Yulu is exploring diverse services, including bike taxis and e-commerce deliveries. The startup intends to enter international markets with Bajaj's assistance and aims to leverage a battery-swapping network for two-wheelers in India.
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Yulu raises $19.25 mn from Magna and Bajaj Auto, eyes expansion & new product launch
Economic Times
·
1y ago
Medial
Yulu Bikes, a shared mobility services provider, has raised $19.25 million in funding from existing investors Magna and Bajaj Auto. The funds will be used to launch a new product, expand the company's reach, and develop technology. Yulu has experienced a significant increase in demand, particularly in Gurugram and Mumbai. The company plans to introduce a new electric scooter for e-commerce deliveries and expand operations to five more metros by 2024. Yulu aims to deploy about 100,000 electric two-wheelers this year and is also exploring opportunities for international exports with its partner Bajaj Auto.
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Electric mobility startup Yulu raises Rs 25Cr debt from Northern Arc
IndianStartupNews
·
1y ago
Medial
Electric mobility startup, Yulu, has secured Rs 25 crore in debt funding from Northern Arc Capital. The funding was raised through the issuance of non-convertible debentures, with each debenture priced at Rs 1,00,000. Yulu aims to enhance urban mobility solutions and offers last-mile connectivity through its network of electric bikes and battery swapping facilities. The startup had previously raised $82 million in a Series B equity funding round and has strategic partnerships with Bajaj Auto and Magna International.
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Grapevine: Alpha Wave bids for stake in VLCC; Yulu Bikes eyes fresh funds
VCCircle
·
12m ago
Medial
US private equity firm Alpha Wave Global has made a binding bid to acquire a 25% stake in VLCC Healthcare, a wellness company based in New Delhi. If successful, the deal could value VLCC at $600-700 million. Alpha Wave's bid includes the possibility of injecting fresh capital into the company. In another development, Indian bicycle-sharing platform Yulu Bikes is reportedly seeking new funds.
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Yulu's FY23 loss widens on battery charging-related costs
Inshorts
·
1y ago
Medial
Yulu Bikes' loss for FY23 widened to Rs 95 crore due to higher operational expenses. However, its revenue increased by 40% to Rs 42.8 crore. The company aims to achieve profitability in FY24 and has been expanding rapidly across India through partnerships, including a recent collaboration with Zepto for sustainable deliveries. Yulu raised $82 million in a Series B round and plans to launch its IPO in FY26.
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Scoot eyes non-metro cities for India growth
Livemint
·
1y ago
Medial
Scoot, a subsidiary of Singapore Airlines, is targeting non-metro cities in India as it sees growing demand for travel from smaller cities. The airline aims to tap into the trend of travelers from non-metro areas seeking international destinations beyond well-known spots. Scoot currently operates flights to various Indian cities and is looking to expand its operations, including resuming flights to Chennai. The airline acknowledges that sales channels are evolving, with some travelers in tier-2 cities using AI tools like ChatGPT to plan their trips before booking through travel agents. Despite competitive challenges, Scoot has seen its air traffic in India return to pre-COVID levels, with growing demand for international travel experiences.
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Yulu eyes expansion as it closes in on profitability
Money Control
·
2y ago
Medial
Yulu, a bike-sharing startup, is approaching profitability and aims to expand its operations. The company's CEO, Amit Gupta, stated that they are on track to achieve profitability in the next few months. Yulu plans to use the funds generated to enhance its technology platform, expand into new cities, and introduce new micro-mobility solutions. The focus on profitability highlights Yulu's growth and sustainability in the competitive startup landscape. The startup, which currently operates in Bengaluru, Delhi and Mumbai, will venture into cities including Hyderabad, Pune, Chennai, Kolkata and Ahmedabad over the next 15 months.
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Small cities, towns to drive next round of GCC expansion
Economic Times
·
8m ago
Medial
The expansion of Global Capability Centers (GCCs) in non-metro locations is set to be a significant trend in India in the coming years. Tier-2 and tier-3 cities are expected to experience a growth rate of 15-20% by 2025. This growth can be attributed to factors such as a growing tech talent pool, favorable government policies, operational efficiencies, and lower costs of living. Ahmedabad, Kochi, Coimbatore, and Chandigarh are among the cities expected to benefit from this expansion. These locations offer a lower cost of living, enhanced quality of life, and a less competitive talent market. Non-metro cities already house over a million tech professionals, particularly in fields like AI, cybersecurity, and big data. The GCC industry in India currently employs over 1.9 million people and is expected to hire over 2.2 million by 2026. In order to promote the setting up of GCCs in smaller cities and towns, the Indian government is working on a policy to provide incentives. Challenges that need to be addressed in non-metro locations include infrastructure and connectivity limitations. However, as the infrastructure improves, these cities have the potential to become strategic GCC hubs.
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Myntra’s Marketplace Entity Turns EBITDA Positive In Q4 2023
Inc42
·
1y ago
Medial
Fashion ecommerce platform Myntra, owned by Flipkart, saw its net loss increase over 30% YoY to INR 782.4 crore ($105.9 million) in FY23, while operating revenue rose 25% to INR 4,375.3 crore ($588.9 million). Myntra's marketplace entity turned EBITDA positive since Q4 of CY23. The company witnessed a 33% surge in monthly active users, reaching 60 million at the end of 2023. Myntra aims to expand into non-metro cities, cater to GenZs, and increase its share of non-apparel segments. Myntra also reported growth in D2C, beauty, and home categories, as well as partnerships with international brands and the acquisition of the franchise rights for UK's NEXT.
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Startups in non-metros see value in digital marketing; aim to compete with bigger markets
Economic Times
·
4m ago
Medial
Startups in non-metro cities are increasingly adopting digital marketing to expand and compete with larger markets. The trend, driven by factors like internet connectivity and local talent availability, is evident in cities like Jaipur and Coimbatore. Demand for digital marketing skills is growing, with many professionals opting for freelance or boutique agency work. Local-language content and digital strategies tailored to smaller towns are increasingly valued, with startups leveraging these to meet diverse industry demands.
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DMRC, Blue Dart ink MoU to provide urban logistics service
YourStory
·
4m ago
Medial
Delhi Metro Rail Corporation (DMRC) and Blue Dart have partnered to provide an innovative urban logistics service, pioneering a model in South Asia Pacific. This collaboration involves transporting cargo via metro trains during non-peak hours, reducing road transport dependency, easing congestion, and curbing emissions. It aims to bolster operational efficiency, shorten delivery timelines, and repurpose metro premises into logistics hubs, integrating sustainability and innovation for greener, efficient urban freight solutions in Delhi-NCR.
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