Debt

Debt financing

EV two-wheeler startup Yulu Bikes raises Rs.25-Cr from Northern Arc

Incubees.com  

Yulu, a Bengaluru-based electric mobility startup, has secured a debt of INR 25 crore from Northern Arc Capital, a Chennai-based non-banking financial company. Yulu would issue 250 non-convertible debentures at an issue price of INR 1,00,000 apiece, to Northern Arc.With its electric bike and network of EV charging and battery swapping stations, Yulu provides last-mile connectivity in Delhi-NCR, Mumbai, and Bengaluru. In FY23, Yulu reported operating revenue of INR 41.74 crore, compared to a loss of INR 94.88 crore in the previous fiscal year.