Electric mobility startup Yulu is raising $8.2 Mn from its cofounders and existing investors via a rights issue.
Yulu's board passed a resolution to allot Series B3 CCPS to existing shareholders, including cofounders and key investors Bajaj Auto and Magna International.
Yulu also raised $2.9 Mn from Magna International through the allotment of Series B3 CCPS.
Yulu plans to raise $100 Mn in its upcoming Series C round and has turned EBITDA positive for a few months in FY25.