Yulu, a Bengaluru-based start-up, has raised $8 million in the latest funding round led by India's leading two wheeler manufacturer, Bajaj Auto.
As part of the partnership, the company, which is working to solve traffic congestion and air pollution by providing a shared e-mobility platform, will now source electric two-wheelers from Bajaj that would be designed exclusively for shared mobility.
We find an experienced and committed partner in Yulu: Investor
"At Bajaj Auto Ltd, we believe that the two factors of congestion reduction and pollution control will drive the segment of shared micro-mobility in the future," said Rajiv Bajaj, the Managing Director of Bajaj Auto, while talking about latest investment.
He further added, "In Yulu we find an experienced and committed partner with the robust achievement of success metrics in a very short time."