šŸ›µ Yulu received ā‚¹73 crores from the US

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Yulu obtained a loan confirmation from the United States International Development Finance Corporation (IDFC) for ā‚¹73 crores.

Story so far: The Bengaluru-based shared electric Mobility-as-a-Service (MaaS) company will bolster its momentum with the help of this funding. Through its newly formed e-mobility financing division, the IDFC suggested the investment in Yulu as part of the organization’s commitment to funding clean and emission-free transportation options in India.

  • The money will help Yulu go a step closer to achieving its goal of enabling green last-mile connectivity.

Progress so far: To date, Yulu has delivered more than 1 million electric vehicles (EVs), preventing 15,000 metric tonnes of CO2 emissions. In collaboration with local and traffic authorities, the company also developed a special social and professional development programme for delivery executives called “Safe Rider.”

  • The initiative trains delivery executives of numerous top delivery businesses in Bengaluru and Delhi and aims to increase delivery executives’ understanding of traffic safety.

(Image credits:Ā Nithish s,Ā CC BY-SA 4.0, via Wikimedia Commons)

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