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.”
According to the company, 75 million+ green deliveries have been made using Yulu EVs till date, and the company has helped save 15000 metric tons of CO2 emissions.
The company has also created a dedicated social and development program for delivery executives called “Safe Rider,” in conjunction with city and traffic authorities. The initiative educates delivery executives on road safety awareness, and has successfully trained delivery executives of many leading delivery companies in Bengaluru and Delhi.
