Yulu Emerges as India’s Largest EBITDA-Profitable Shared Electric Mobility Pioneer, Crosses US$30 Million ARR

Yulu, India’s leading shared electric mobility platform, has achieved a major milestone, becoming the country’s largest EBITDA-profitable player in the sector while crossing an Annual Recurring Revenue (ARR) of US$30 million. This growth can be attributed to Yulu’s strong product-market alignment, increased demand from the quick commerce and food delivery industries, and supportive policy measures promoting transport electrification.
With a fleet of over 40,000 electric vehicles (EVs), Yulu has seen its revenues and user base expand by an astonishing seven-fold over the past two years. The company’s AI-powered full-stack EV platform, combined with the strategic support of Yuma Energy—one of India’s largest battery-swapping networks—has fueled this hypergrowth, making Yulu an indispensable part of the delivery ecosystem across 11 Indian cities.
Now, Yulu is gearing up for an ambitious expansion plan to deploy 100,000 EVs by 2025. To fund this initiative, the company plans to raise US$100 million in Series C debt and equity financing within the next 12 months. Yulu has focused on maintaining positive unit economics by investing in continuous product innovation and leveraging data science, AI, and machine learning to enhance monetization and operational efficiency. This technology-driven approach has allowed Yulu to scale its business without significantly increasing fixed costs.
Yulu’s shared fleet of electric two-wheelers has quickly become the preferred choice for delivery riders, offering savings of 30-40% compared to traditional internal combustion engine (ICE) vehicles. The platform has empowered over 150,000 delivery riders, including women, with enhanced livelihoods through cost-effective, sustainable mobility solutions. Additionally, Yulu has forged strong partnerships with key players in the quick commerce and food delivery sectors, including Zomato, Swiggy, Zepto, Blinkit, and others. The company’s market dominance is evident in its nearly 100% coverage of dark stores in areas where it operates, with its EVs comprising 35-80% of all vehicles at the store level, powering over 20 million green deliveries each month.
Amit Gupta, Co-founder and CEO of Yulu, says, “Yulu is delighted to achieve the EBITDA-positive milestone. As the country’s largest shared electric mobility player, Yulu is a critical enabler for the instant delivery revolution. The simplicity and ease of our platform allow gig workers without vehicles to join the delivery workforce, while also addressing the crucial supply gap in the quick commerce value chain. With its best-in-industry technology stack and reliable and purpose-built EVs by Bajaj Auto, Yulu stands out with a unique advantage and unmatched scalability. We’re excited about the future and look forward to seizing the vast opportunities in instant and hyperlocal deliveries.”
In line with its expansion strategy, Yulu has introduced the Yulu Business Partner (YBP) initiative, a franchise model that has extended its reach into non-metro cities such as Indore, Kochi, Tirunelveli, and Pondicherry. Additionally, Yulu is set to unveil a mid-speed electric two-wheeler by the end of the year, with a top speed of 45 km/h. This new EV model will cater to a broader range of use cases, including bike taxis, long-distance food deliveries, courier services, and higher-payload goods transport.
As a result, Yulu has significantly contributed to the Sustainable Development Goals by enabling millions of green deliveries, reducing carbon emissions, and supporting eco-friendly commerce.