Annual recurring revenue (ARR) of $3 million
Yulu claims to have passed. Also, there is a growing demand for quick commerce, food delivery services and government policies.
EBITDA (earnings before interest, taxes, depreciation, and amortisation) was positive.

At present, Yulu has more than 40,000 electric vehicles. The plan is to deploy one lakh electric vehicles by 2025. It will raise $100 million in a Series C funding round next year for this expansion. In September last year, Yulu raised $82 million (INR 653 crore) in a Series B round of funding led by US-based Magna International and partnered by Bajaj Auto.

Founded in 2017 by Amit Gupta, RK Mishra, Naveen Dachuri, and Hemant Gupta, Yulu provides electric-two-wheeler mobility services in Bengaluru, Delhi NCR, and Mumbai. The company plans to expand to other cities like Hyderabad, Kolkata and Chennai.

The start-up claims to facilitate more than 20 million deliveries per month, claiming 30-40% cost savings over conventional fuel vehicles. Members of the company also say that its AI-powered platform allows them to scale while maintaining efficiency. 

Yulu's growth is supported by its battery swapping network Yuma Energy and partnerships in the quick commerce space with Zomato, Zepto, Blinkit and Swiggy.

The company also aims to grow on the back of central and state-level policies to boost transportation electrification and e-commerce, including the government-backed Open Network for Digital Commerce (ONDC).