Bengaluru-Based Yulu Secures Rs. 73 Crore Financing From U.S. International Development Finance Corporation

Yulu, a Bengaluru-primarily based shared electric powered Mobility-as-a-Service (MaaS) participant, gained a personal loan affirmation of Rs. 73 crore from the U.S. Worldwide Improvement Finance Company (DFC), the United States government’s Improvement Monetary Institution (DFI), centered on advancing financial development in rising markets across the environment. The IDFC proposed the expense in Yulu by its new e-mobility funding team, as a aspect of the institution’s target on financing clear and zero-emissions transportation remedies in India. The funds will bolster Yulu’s momentum toward its eyesight of enabling inexperienced very last-mile connectivity.

Anuj Tewari, CFO, Yulu claimed, “This funding from a ahead-hunting establishment as the DFC speaks about their perception in Yulu’s vision and the means to execute at scale, to not just produce a environmentally friendly mobility alternative but also to make livelihoods by means of immediate and indirect employment opportunities. We are very thrilled.”

(From L-R): Anuj Tewari-CFO, Naveen Dachuri-Cofounder & CTO, Amit Gupta-Co-Founder & CEO, and R K Misra- Co-Founder & President.

Yulu has made extra than 1 million EV deliveries to day serving to help save 15,000 metric tons of CO₂ emissions. The company also created a devoted social and improvement application for supply executives named “Safe Rider,” in conjunction with town and targeted traffic authorities. The initiative educates shipping executives on road basic safety recognition and has correctly educated shipping and delivery executives of several primary delivery corporations in Bengaluru and Delhi.