Mobility startup Yulu raised $8 million from Bajaj
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Bicycle and electric rental startup Yulu has received $8 million of investment from Bajaj auto. As a part of the deal, Bajaj will manufacture electric scooters and will also facilitate the financing. Yulu is a lithium-powered dockless scooter that focuses on the sub-5 km first and last-mile connectivity. Ola-backed Vogo and Sequoia are also targeting the same market. Yulu plans to expand its reach by December 2020.