Exclusive: Yulu To Raise $8.2 Mn From Cofounders Via Rights Issue

Yulu, the electric bike-sharing platform, is set to raise $8.2 million from co-founders via a rights issue. A rights issue allows existing shareholders to purchase additional shares, typically to raise capital. This investment from the co-founders indicates their strong belief in Yulu's future growth and their commitment to funding its expansion. The capital will likely be used to scale operations, expand its fleet of electric vehicles, and enhance its technology. This move strengthens Yulu's financial stability, enabling it to capitalize on the increasing demand for sustainable and convenient urban mobility solutions.