Yulu Bikes aiming to raise over $100 million to fund expansion

Yulu Bikes aimed to raise over $100 million in a Series C round to expand its operations and fleet of electric two-wheelers. The company collaborated with Bajaj Auto to develop electric vehicles, expecting 5x growth in the quick-commerce segment. Yulu planned to introduce mid-speed scooters by the end of 2024 and become operationally profitable soon.