Mobility firm Yulu raises $3.9 mn in equity funding round led by Rocketship

EV micro-mobility service provider Yulu has raised $3.9 million in equity funding led by US-based VC firm Rocketship and existing investors. The new investment will be used for further strengthening the mobility platform, technology solutions, and enabling rapid expansion.

So far, the Bengaluru-based start-up has raised more than $20 million in funding from investors like Bajaj Auto, Blume Ventures, 3one4 Capital, Wavemaker, and now US-based Rocketship, among others.

"We are glad to have Rocketship on board as our new investor. We stand to benefit from their global expertise in supporting technology-led businesses and look forward to working with them," said Amit Gupta, Co-founder & CEO,

Yulu.

The company is witnessing a V-shape recovery post-lockdown because of a surge in demand for solo, safe, and sanitized mobility solutions.

"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." said Sailesh Ramakrishnan, Partner at Rocketship.vc.