India’s Yulu raises $93M as quick-commerce boom fuels e-bike demand

“India's Yulu, an electric mobility startup, has raised $93 million in funding to expand its fleet of e-bikes for quick-commerce delivery services. The company plans to grow its fleet to 200,000 bikes over the next two years and launch faster electric two-wheelers. This move is expected to fuel the growth of the e-bike market in India. Expert Analysis: This funding round highlights the increasing demand for sustainable and efficient logistics solutions in India, driven by the quick-commerce boom. As Yulu expands its operations, it may also explore opportunities to enter new markets, including the US, where e-bike adoption is on the rise.”