yulu

Comprehensive Company Profile: Yulu Bikes Pvt. Ltd.

Overview

Yulu Bikes Pvt. Ltd., founded in August 2017, is a significant entity in the mobility-as-a-service (MaaS) sector. Headquartered in Bengaluru, India, Yulu was established by Amit Gupta, RK Misra, and Naveen Dachuri, with Anuj Tewari joining as a co-founder in 2023. The company is committed to providing shared low-speed two-wheeler electric vehicles (EVs), offering an eco-friendly alternative to conventional internal combustion engine vehicles. Yulu has a substantial presence in urban markets including Bengaluru, Mumbai, and Delhi, and has expanded to cities like Indore and Kolkata through local collaborations. Boasting a network of 45,000 dockless shared EVs and a user base exceeding four million, Yulu is a leader in urban mobility solutions across India.

Leadership Team

• Amit Gupta: Co-Founder & CEO

• Renowned as a visionary entrepreneur with a background in technology and business, Amit was also a co-founder of InMobi. His leadership at Yulu is driven by a mission to transform urban mobility.

• Naveen Dachuri: Co-Founder & Chief Technology Officer

• An alumnus of IIT Kanpur, Naveen is passionate about harnessing emerging technologies to propel Yulu’s tech-enabled mobility solutions.

• RK Misra: Co-Founder & President - Ecosystem Partnerships

• Known for his expertise in forging strategic partnerships, Misra plays a key role in navigating regulatory landscapes to deliver impactful alliances.

Business Model

Yulu's business model is anchored on flexibility and sustainability, with a focus on dockless EV rentals through a pay-per-use arrangement. It caters to urban commuters by facilitating integrated urban mobility via public and private transportation channels. Leveraging advanced IoT, cloud services, and AI, Yulu enhances its operational framework. Its product offerings, such as the Miracle and DeX models, are designed to serve personal and delivery requirements, the latter gaining wide acceptance among delivery professionals notably during the COVID-19 pandemic.

Strategic Partnerships

In a significant move, Yulu partnered with Magna International in 2022 to establish Yuma Energy, a battery-as-a-service (BaaS) business. This initiative provides battery swaps for Yulu EVs through a network of over 300 stations, enhancing operational efficiency and service accessibility in pursuit of sustainable urban transportation.

Financial Performance and Expansion

Yulu achieved the distinction of being India's largest EBITDA-positive player in the shared electric mobility sector by FY2025, with an Annual Recurring Revenue (ARR) reaching $30 million. For FY2023, revenues stood at Rs 42.8 crore ($5.13 million). Backed by significant investors including Bajaj Auto and Magna International, Yulu amassed over $124 million in funding. Such financial and strategic backing supports Yulu’s focus on collaborative infrastructure development essential to its expansion ambitions.

Technological Innovations

Yulu's infrastructure integrates IoT and AI technologies, optimizing vehicle usage and energy management to enhance user experience and operational efficiency. The technological strides underpinning Yuma Energy have reinforced Yulu’s capabilities in battery swapping and sustainability initiatives.

Future Prospects

With plans for a public offering by FY2026, Yulu envisions scaling operations and deepening market reach, focusing on profitable unit economics. Its Yulu Business Partner (YBP) franchise initiative highlights its strategy to stimulate local entrepreneurship and broaden its footprint in shared mobility across various markets.

Competitor Profiling

Competitor Landscape

Yulu operates in a highly competitive shared electric mobility market, contending with several companies that offer diverse, eco-friendly transportation solutions. Prominent competitors include:

1. GreenCell Mobility

• Headquarters: Mumbai, Maharashtra, India

• Founded: 2019

• Website: [greencellmobility.com](https://greencellmobility.com)

• Specializes in building a comprehensive eMaaS ecosystem with a focus on B2G, B2C, and B2B offerings.

2. Lime

• Headquarters: San Francisco, California, USA

• Founded: 2017

• Website: [li.me](https://www.li.me)

• Recognized for its global presence, Lime operates in over 200 cities, providing e-scooters and e-bikes to curb carbon emissions.

3. Revel

• Headquarters: Brooklyn, New York, USA

• Founded: 2018

• Website: [gorevel.com](https://gorevel.com)

• Offers urban residents electric mopeds and EV charging, emphasizing safety and sustainability.

4. GO Sharing

• Headquarters: Nieuwegein, Utrecht, Netherlands

• Founded: 2019

• Website: [go-sharing.com](https://go-sharing.com)

• Focuses on 100% electric shared transport with an emphasis on connectivity and sustainability.

5. ZF Micro Mobility GmbH

• Headquarters: Ravensburg, Baden-Wurttemberg, Germany

• Founded: 2017

• Website: [zfmicromobility.com](https://zfmicromobility.com)

• Develops innovative micro-mobility solutions aimed at fostering eco-friendly urban commutes.

Industry Trends

The shared electric mobility market is driven by rapid innovation and a strong inclination towards sustainability, with firms integrating advanced technology to enhance user experience, safety, and reliability. This sector is pivoting towards electric vehicles, influenced by government initiatives promoting green transport and heightened environmental awareness. Yulu, with its substantial expansion in India’s urban landscape and an enduring commitment to green mobility, is strategically positioned to capitalize on these industry trends by maintaining competitiveness through innovation and user-focused service delivery.