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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
The e-bike rental company just announced a massive fundraise in a sector that has been dead in the water for a while.
Editor's note: Ever since the pandemic, Yulu, the Bengaluru-headquartered e-bike rental startup, has been missing from the electric mobility conversation. Last month it surprised everyone. The company said it has raised an $82 million funding round. Most of the money has come from Magna International, a Canadian auto parts maker. For decades, Magna has played a crucial role in supplying parts like seats and body and chassis systems to the traditional automotive industry. With its investment in Yulu, it wants to dabble in battery swapping and infrastructure management for the electric two-wheeler industry, a business that’s also a first for Magna. It wasn’t too long ago that Yulu and its signature low-speed, blue e-bikes were fast approaching the category of also-rans. For more than two years now, there’s been barely any investor interest in the shared mobility business. Yulu’s biggest rivals have either changed tack to survive (scooter rental startup Bounce became a manufacturer) or got acquired after a long struggle to raise fresh funds (scooter rental startup Vogo). Yulu itself didn’t raise any money for two years. The new fundraise then …
The e-bike rental company just announced a massive fundraise in a sector that has been dead in the water for a while.
Editor's note: Ever since the pandemic, Yulu, the Bengaluru-headquartered e-bike rental startup, has been missing from the electric mobility conversation. Last month it surprised everyone. The company said it has raised an $82 million funding round. Most of the money has come from Magna International, a Canadian auto parts maker. For decades, Magna has played a crucial role in supplying parts like seats and body and chassis systems to the traditional automotive industry. With its investment in Yulu, it wants to dabble in battery swapping and infrastructure management for the electric two-wheeler industry, a business that’s also a first for Magna. It wasn’t too long ago that Yulu and its signature low-speed, blue e-bikes were fast approaching the category of also-rans. For more than two years now, there’s been barely any investor interest in the shared mobility business. Yulu’s biggest rivals have either changed tack to survive (scooter rental startup Bounce became a manufacturer) or got acquired after a long struggle to raise fresh funds (scooter rental startup Vogo). Yulu itself didn’t raise any money for two years. The new fundraise then …
The EV maker is turning to gig-worker rentals to absorb its scooter output. But questions on cost, competition and execution make its latest pivot uncertain.
After 15 years, more than $550 million in funding and over $200 million in revenue, the cloud kitchen startup must find a way to make a profit and go public. Grover is the man Rebel has chosen for the job.
The e-bike rental startup has made the most of the country’s quick-commerce boom, fuelled by the pandemic lockdowns. Now it needs to step outside its comfort zone.
The EV maker is turning to gig-worker rentals to absorb its scooter output. But questions on cost, competition and execution make its latest pivot uncertain.
After 15 years, more than $550 million in funding and over $200 million in revenue, the cloud kitchen startup must find a way to make a profit and go public. Grover is the man Rebel has chosen for the job.
The e-bike rental startup has made the most of the country’s quick-commerce boom, fuelled by the pandemic lockdowns. Now it needs to step outside its comfort zone.
