Bengaluru-based electric mobility startup Yulu saw its revenue surge in FY25 as demand for shared electric bikes picked up across major cities. The company nearly doubled its operating revenue during the year while slightly reducing losses, even as it continued to invest in fleet expansion and operations.
Financial filings with the Registrar of Companies (RoC) show Yulu’s operating revenue climbed to Rs 242 crore in FY25, up from Rs 123 crore in FY24, reflecting strong adoption of its electric mobility platform.
The company spent most of the funds on operating expenses for fleet operations and maintenance, and a significant portion on employee costs.
The startup also earned smaller portions from the sale of electric bikes and accessories, manpower services, and franchise partnerships tied to delivery operations.
Founded in 2017, Yulu runs a shared electric mobility platform designed for short-distance urban travel. Its bikes are widely used by office commuters as well as gig workers handling deliveries for quick-commerce and e-commerce platforms.
The company currently operates in cities such as Bengaluru, Mumbai, and Delhi-NCR, where traffic congestion and increased fuel costs have created the need for affordable electric mobility solutions.
Yulu’s net loss for the FY25 financial year was at Rs 126 crore, down from Rs 142.8 crore in the FY24 financial year. Thus, the company is moving in the right direction financially.
The startup experienced higher expenses because it expanded its business activities. The total spending reached approximately Rs 351 crore, up from Rs 258 crore in the previous year.
The company dedicated most of its funds to operating expenses related to fleet operations and maintenance, logistics, and technology infrastructure. In contrast, employee expenses accounted for a significant portion of its total expenditures.
Yulu achieved greater cost efficiency despite increased spending. The company spent Rs 1.48 to generate every rupee of operating revenue in FY25, down from Rs 2.15 in the previous year.
Yulu is expanding its urban presence because delivery partners require more electric last-mile mobility.