Yulu, Bounce chase fresh funds; MPs target social media
Happy Tuesday! Yulu and Bounce Infinity are back in the funding market as rising delivery demand gives them a fresh boost. This and more in today’s ETtech Morning Dispatch.
Electric mobility startups Yulu and Bounce Infinity are seeking fresh funding, with the former targeting $50 million and the latter $20-25 million. Yulu's investors include GEF Capital and One Planet Partners, while Bounce's potential investors remain undisclosed. Both companies have shifted their focus to gig-worker rentals post-Covid, as shared mobility saw a decline in demand.
This pivot has helped narrow their losses, with Bounce's losses down to Rs 28.6 crore and Yulu's narrowing by 12% to Rs 126 crore in FY25. A report highlights how rising demand for quick commerce and food delivery services is boosting both companies' post-Covid growth strategies, with gig-worker fleets becoming their core growth engine.
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