Archive · 4 Oct 2026
Yulu Expands Electric Mobility After Pivoting Beyond Commuters
Amit Gupta started Yulu because traffic in Bengaluru made even short trips take a long time.
At first, Yulu let people rent regular bicycles for short journeys.
The founders found that many customers used them for fun or exercise instead of commuting.
So Yulu switched to slow electric bikes that could be rented without a driving licence or vehicle registration under the rules then in force.
When Covid kept commuters at home, Yulu rented its unused bikes to delivery workers.
That new business helped the company grow.
Yulu now has about 50,000 vehicles and wants to add more.
It also plans to bring more commuter bikes back to Bengaluru and make a faster model.
Proposed rule changes could affect how low-speed vehicles are classified.
Amit Gupta co-founded Yulu after worsening Bengaluru traffic changed his plans to retire at 40.
Launched in 2018 with pedal-bike rentals, Yulu shifted to low-speed electric bikes after finding limited commuting demand.
During Covid, the company began renting its idle vehicles to food-delivery and quick-commerce workers.
Yulu has a fleet of about 50,000 vehicles and reported FY25 revenue of ₹241.9 crore, up from ₹122.8 crore in FY24.
The company plans to expand its fleet, restore thousands of commuter bikes in Bengaluru and introduce a faster vehicle, amid regulatory uncertainty.
- Who
- Yulu, co-founded by Amit Gupta, Naveen Dachuri and RK Misra, with Anuj Tewari later becoming a co-founder.
- What
- The electric-mobility company is expanding its fleet and product range after building a business serving delivery riders as well as commuters.
- When
- Yulu launched in early 2018; its plans and financial results described include FY25 and the next one to two years.
- Where
- Bengaluru, India, where worsening traffic helped inspire the company and where Yulu plans to restore commuter bikes.
- Why
- Gupta wanted to address short-distance urban travel as traffic worsened; the company later pivoted to delivery riders after the pandemic halted commuting.
- Launch
- Early 2018, initially as a bicycle-rental service
- Current fleet
- About 50,000 vehicles
- FY25 revenue
- ₹241.9 crore, up from ₹122.8 crore in FY24
- FY25 loss
- ₹126 crore, down from ₹142.8 crore in FY24
- August funding
- $93 million: $63 million in equity led by GEF Capital Partners and $30 million in debt
- Funding to date
- About $198 million in equity and $49 million in debt, according to Tracxn
- Bengaluru plan
- Bring 7,000–8,000 Miracle commuter bikes back over the next two to three quarters
- Draft regulatory proposal
- Raise the low-speed vehicle power limit from 250 watts to 600 watts and remove the 60-kg weight cap