Mobility startup Yulu eyes $80 million raise riding on quick commerce buzz

Shared mobility services firm Yulu is in discussions to raise $75-80 million (about Rs 650-700 crore) in funding as it looks to capitalise on the quick commerce growth. The Bengaluru-based firm has held talks with a few global impact funds and private equity investors, according to people in the know.

Existing backers Bajaj Auto and Magna International are also expected to participate in the fundraising.

“The company is witnessing rapid growth on the back of quick commerce expansion… it has reached $30 million in ARR (annual recurring revenue),…