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Yulu is in talks to raise $50 million to expand its electric vehicle rental fleet. The funding round is backed by GEF Capital and One Planet Partners.
PRIVATEAug 11, 2026•about 4 hours ago
Amount Raised
$50 Million
Round Type
Venture - Series Unknown
United StatesTransportationAutomotiveElectric Vehicle
Investors
One Planet PartnersGef Capital
Description
Yulu, an electric mobility startup, is seeking to raise $50 million to enhance its electric vehicle rental services. The funds will be used to meet the growing demand from the quick-commerce and food-delivery sectors. The company is currently valued at approximately $250 million. This funding reflects increased investor confidence in the gig-EV rental market.
Company Information
Company
Yulu
Location
United States
About
The startup will use the funds to scale its mobility & battery-swapping businesses. Electric mobility startup Yulu said on Monday it has raised $82 million (Rs 653 crore) in funding led by US-based Magna International Inc., with existing investors such as Bajaj Auto Limited also participating Yulu said it will also use the funding to increase its two-wheeler electric vehicle (EV) fleet to more than 1 lakh electric and 500 plus battery charging and swapping stations in the next 12 months.
United StatesTransportationAutomotiveElectric Vehicle