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Yulu Turns EBITDA Positive, Breaches $30 Mn ARR On Rising Quick Commerce Demand

Inc42 · 8m

- Yulu has achieved a milestone of crossing an annual recurring revenue (ARR) of $30 million and has also become EBITDA positive. - Yulu currently operates a fleet of over 40,000 electric vehicles and plans to deploy 100,000 EVs by 2025. - The company is set to raise $100 million in its Series C funding round to support its expansion plans. - In September 2020, Yulu raised $82 million in its Series B funding round led by Magna International and Bajaj Auto. - The demand for quick commerce and food delivery services, along with supportive government policies, has contributed to Yulu's growth.