Yulu obtained a loan confirmation from the United States International Development Finance Corporation (IDFC) for ₹73 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.