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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 food-tech pioneer is on the brink of losing its decade-long fight for survival, laying bare the pitfalls of the cloud kitchen business.
The Saudi-backed EV maker says claims of a possible collapse are untrue, but investors remain worried about the company’s future.
In light of the recent exits of top executives at Swiggy’s quick commerce business, we look at the reasons behind the departures and whether it’s impacting the business.
