Yulu has reported enhancing the lives of over 150,000 riders and their families, including women, by offering cost savings of up to 40% compared to traditional internal combustion engine (ICE) vehicles. This affordability has made Yulu a preferred option for delivery riders and has strengthened its relationships with companies such as Zomato, Zepto, Blinkit, and Swiggy.
Yulu has become India’s largest EBITDA-positive shared electric mobility company, reporting an Annual Recurring Revenue (ARR) of USD 30 million. The company’s growth is attributed to a strong product-market fit, rising demand for quick commerce and food delivery services, and supportive policy environments. Over the past two years, Yulu’s revenues and user base have increased sevenfold, propelled by its AI-enabled electric vehicle (EV) platform and an extensive battery-swapping network named Yuma Energy. Operating in 11 Indian cities, Yulu has set a target to deploy 100,000 EVs by 2025 and is in the process of raising USD 100 million to support this expansion.
The company asserts that it has positively impacted the livelihoods of over 150,000 riders and their families by offering up to 40% cost savings over traditional internal combustion engine vehicles, which has also facilitated stronger partnerships with companies such as Zomato, Zepto, Blinkit, and Swiggy.
Yulu’s current fleet includes more than 40,000 electric vehicles, reflecting significant growth in users and revenue over the last two years. Amit Gupta, Co-founder and CEO of Yulu remarked on the milestone, highlighting Yulu’s role in supporting the instant delivery revolution and its readiness to meet the rising demand for instant and hyperlocal deliveries.
The company’s strategy focuses on leveraging data science, artificial intelligence (AI), and machine learning (ML) to enhance operational efficiency and monetization, which has allowed Yulu to expand operations while managing costs effectively. This approach supports its position in the quickly growing quick commerce sector, expected to increase tenfold by 2030.
Additionally, Yulu has introduced the Yulu Business Partner (YBP) initiative, expanding its services to non-metro cities and plans to launch a mid-speed electric two-wheeler later this year, designed for a range of services including bike taxis and courier deliveries.
