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EV rental player Yulu to raise $100-M; to enter personal scooter space

Economic Times  

Electric two-wheeler startup Yulu is planning to raise USD 100 million to expand its business model and grab a larger pie of the last-mile mobility segment. Yulu claims to have created the country's largest battery as a service network (BaaS) with 3 million battery swaps till date. It will expand its fleet to 100,000 units by the end of the year from 10,000 units currently, open up franchisee models to reach newer cities and cater to personal buyers in the next one year.