Electric mobility firm Yulu raised $9 million through debt financing from DFC

Bajaj Auto-backed shared electric mobility firm Yulu raised $9 million through debt financing from US International Development Finance Corporation (DFC).

Yulu is an AI-powered Battery-as-a-Service (BaaS) platform that offers urban Mobility-as-a-Service (MaaS) in Bengaluru, Mumbai, and Delhi-NCR. According to a statement released by the company on November 14, DFC proposed the investment in Yulu through its newly formed e-mobility financing team as part of the institution’s focus on funding clean and emission-free transportation options in India. According to the company, the platform has completed more than 3.5 million battery swaps and has sped up the adoption of electric mobility in India.