November 15

Yulu Secures US $9 Million in Financing from US International Development Finance Corp

Yulu, shared electric Mobility-as-a-Service (MaaS) player, secured $9 million (Rs 73 crore) funding by the US International Development Finance Corporation (DFC), the United States government’s Development Financial Institution (DFI). The funds are aimed at bolstering Yulu’s momentum towards its vision of enabling green last-mile mobility.

The investment in Yulu is proposed through its new e-Mobility financing team, as a part of the institution’s focus on financing clean and zero emissions transportation solutions in India.

Anuj Tewari, Chief Financial Officer, Yulu said, “This financing from a forward-looking institution as the DFC speaks about their belief in Yulu’s vision and the ability to execute at scale, to not just create a green mobility alternative but also to create livelihoods through direct and indirect employment opportunities. We are quite thrilled.”

Photo courtesy of Markus Winkler.

Source: Financial Express (link opens in a new window)

Finance, Technology, Transportation
electric vehicles, transportation