Portability startup Yulu scores $7 Mn obligation
Portability new companies' have skipped back in the continuous monetary (FY22) after a serious disturbance in their tasks during the last financial (FY21). Organizations like Rapido, Ola and BluSmart, Chalo and Zoomcar had brought fundings up in FY22.
On the lines of these organizations, Bengaluru-based Yulu is yet to raise a huge value round in FY22, however the organization has quite recently scored $7 million in an obligation round. Yulu has passed an extraordinary goal to get the previously mentioned aggregate from Magna International INC through non-convertible debentures (NCDs), administrative filings with RoC show.
Yulu offers last-mile availability through its electric bicycle and organization of EV charging and battery trading organization. As per a Mint report, it's fostering the Yulu Max Network which would assist clients with trading their batteries.
It means to have 500 Max stations across Bengaluru, Mumbai and Delhi NCR districts by July. The organization has been peering toward to bring $40 million up in value capital yet it's yet to emerge.