Yulu will use this funding round to increase its fleet capacity to 2 lakh electric vehicles and expand service hubs.

Bajaj Auto-backed Yulu is in talks with GEF Capital and One Planet Partners to raise the funds at a valuation of about $250 million, up from $200-210 million previously, sources…

Yulu aims to have a fleet of 200,000 bikes in the next two years and faster electric two-wheelers, aiming at new logistics use cases.