Exclusive: Mobility startup Yulu scores $7 Mn debt
Mobility startups’ business have bounced back in the ongoing fiscal (FY22) after a severe disruption in their operations during the last fiscal (FY21). Companies such as Rapido, Ola and BluSmart, Chalo and Zoomcar had raised fundings in FY22. On the lines of these companies, Bengaluru-based Yulu is yet to raise a large equity round in FY22, but the company has just scored $7 million in a debt round. Yulu has passed a special resolution to borrow the aforementioned sum from Magna International INC through non-convertible debentures (NCDs), regulatory filings with RoC show. Continue reading Exclusive: Mobility startup Yulu scores $7 Mn debt at Entrackr.
Mobility startups’ business have bounced back in the ongoing fiscal (FY22) after a severe disruption in their operations during the last fiscal (FY21). Companies such as Rapido, Ola and BluSmart, Chalo and Zoomcar had raised fundings in FY22.
On the lines of these companies, Bengaluru-based Yulu is yet to raise a large equity round in FY22, but the company has just scored $7 million in a debt round. Yulu has passed a special resolution to borrow the aforementioned sum from Magna International INC through non-convertible debentures (NCDs), regulatory filings with RoC show.
