STARTUP STORIES – YULU

Yulu

Mobility Matters:

The world is evolving at a rapid phase which makes people turn into nimble-footed. People are endeavoring to match their 24 hours between their job and their life. This could be clearly understood when stood in a signal of a busy urban road. They try their level best to spare the time spent on their daily commute. The pandemic has taught us the best lesson that it’s always better to have alternative options to public transport modes. Because at certain times public transport is unreliable, time-consuming and exhausting. There are many possible alternative solutions offered for the same. One such hassle-free solution is to rent electric bikes and pay after the rode ends. This could be a revolution in urban mobility. 

Yulu – the market changer:

Bangalore is one of the first Indian cities to adopt and explore new technologies. No wonder it’s known as the “ Silicon Valley of India. ”Many Multi-National Companies are headquartered in the city and hence the population is becoming denser day by day. Hence the commute problem is becoming crucial in the city. Yulu came as a game-changer in resolving the problems. Started in 2019 they launched with a fleet of 2000 electric scooters named Miracle. 

You can simply download the Yulu app, find the Yulu zone, unlock the bike by scanning the QR code, ride the vehicle and once you end the ride you will be charged based on the distance you have covered. People like the idea for 2 reasons : * The user interface was easy to use *The bike had a decent range of 60kms and a speed of 25km /hour. Owing to the acceptance of the people in Bangalore, Yulu expanded its fleet in 2020.  The startup operated in 4 major cities of India – Mumbai, Bangalore, Pune, and Bhuvaneshwar.

Reason for their success:

  • Early adopters: They addressed the mobility challenges of India with a service-based vehicle fleet at an early stage. The hassle-free commute experience with proper service and support attracted the consumers easily.
  • Consistent updates: They follow their customers so closely and understand their needs better. They improvised the charging infrastructure, added slots for carrying personal things etc. 
  • Beginner-friendly: Since it’s a vehicle with a maximum speed of 25km/hr, it does not need a license for a ride. This has made the vehicle a beginner-friendly one.
  • Analyzing Algorithms: They have algorithms in the software which analyze the areas and time zones that hold peak demand. Based on the analysis they expand their zones of operation. 
  • Alternative thinking: In the pandemic situation, the usage of YUlu bikes dropped significantly. Then they offered their bikes as service to frontline warriors, delivery executives, etc which has improvised their revenue and has also provided a better reach

The micro-mobility solution provider has been backed by a series of investors and AutomotivePioneer Bajaj. As its revenue has increased almost 2.5 times in the current year its expected to raise the next round of funding for its further expansions.

https://www.yulu.bike/products/miracle/

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