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Electric mobility-as-a-service (MaaS) platform Yulu recently raised $93 million in its Series C round through a mix of debt and equity. The round comprised $63 million in equity led by GEF Capital Partners, with participation from One Planet Partners, and $30 million in debt. Entrackr examined Yulu's regulatory filings to decode the company's latest funding round, updated captable, and post-money valuation. According to the company’s regulatory filings accessed from the Registrar of Companies (RoC),Yulu board approved 200 equity shares and 55,200 Series C compulsorily convertible preference shares (CCPS) at an issue price of Rs 82,615 per share to raise Rs 456 crore. Separately, the company issued 10,770 Series C1 compulsorily convertible preference shares (CCPS) at an issue price of Rs 84,291 to raise Rs 91 crore. Combined, Yulu raised around Rs 547 crore through the equity funding. According to the filings, the proposed debt component has yet to be received, while the transaction also involves a secondary component. GEF Capital Partners led the series C round with an investment of Rs 456 crore and remaining amount infused by One Planet Partners Rs 91 crore. As per the filing, Yulu plans to deploy the fresh capital to strengthen its capital base, support operations and strategic initiatives, and fuel future growth. The company aims to quadruple its active fleet to 200,000 electric vehicles over the next two years, expand into new urban mobility use cases, and support its potential public market listing plans. As per Entrackr’s estimates, Yulu’s post-money valuation stood at around $180–200 million. Founded in 2017 by Amit Gupta, Anuj Tewari, RK Misra, and Naveen Dachuri, Yulu operates a technology-enabled fleet of electric two-wheelers for urban mobility and last-mile delivery. Its fleet is currently around 50,000 vehicles, with the company planning to expand its presence to about 20 cities over the next year. Following the latest allotment, GEF Capital Partners acquired a 31.29% stake in Yulu, followed by Magna International Inc. at 14.38% and Bajaj Auto at 12.38%. One Planet Partners holds a 6.13% stake. Yulu’s co-founders collectively retain a 22.25% stake in the company, with Amit Gupta holding 8.90%, while Naveen Dachuri, Rajendra Kumar Misra and Hemant Gupta each hold 4.45%. Bengaluru-based Yulu is yet to file its FY26 financials. In its latest available FY25 filings, the company’s operating revenue jumped 98% to Rs 237.4 Cr, from Rs 120 Cr in FY24, while its net loss decreased 12% to Rs 126 Cr, from Rs 142.8 Cr.
document fetched 2026-09-18 02:56