Mobility player Yulu to raise $40-M for gig economy-focused bikes

Mobility startup Yulu is in talks to raise USD 40 million for its new gig workers-focused vehicle, Yulu DEX. This funding round will be a mix of equity and debt. The company plans to add 10,000 Yulu DEX bikes across Bengaluru, Mumbai and Delhi by December 2021. As compared to Yulu's people mobility vehicles, Yulu DEX will have an added carrier with a luggage capacity of 12 kg, better seats, and high-duty shock absorbers. These bikes will have a range of 60 km per charge, a maximum speed of 25 km/hr , and would not require a driver's licence to ride.