Yulu Receives Funding Of $9 Million From US International Development Finance Corporation

A file photo of Yulu's Miracle electric scooter

Estimated Reading Time: 1 minutes

Yulu, the shared electric Mobility-as-a-Service company, receives a loan confirmation of $9 million from the US International Development Finance Corporation (DFC). US DFC is the United States Government’s Development Financial Institution.

Anuj Tewari (Chief Financial Officer at Yulu Bikes), stated that the US DFC suggested the investment in Yulu via its new electric mobility financing group as part of its focus on financing clean and low-emission transportation solutions in the country.

He stated that Yulu has fulfilled six United Nations Sustainable Development Goals and built a clean mobility company in India on the basis of positive unit economics. We are very happy.

According to the start-up, 75 million+ green deliveries have been made by its EVs so far. The company also claims it has saved 15,000 metric tonnes of CO2 emissions. In conjunction with traffic and city authorities, it has created “Safe Rider,” a social as well as a development program for delivery executives.

ALSO READ  Yamaha Motors' MBSI Enters Hyderabad EV Mobility Market

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.