TURNING A CORNER

SHARED ELECTRIC MOBILITY START-UP YULU'S SHIFT TO SERVICING THE QUICK COMMERCE SECTOR IS HELPING IT GROW FAST. IT IS NOW FOCUSSING ON IMPROVING ROAD SAFETY FEATURES AS IT TURNS EBITDA POSITIVE

- PALAK AGARWAL

IF YOU'VE TRAVELLED by road in most major cities over the past two years, chances are you've seen small electric bikes zip past you, carrying a load of goods to be delivered. They have become the ubiquitous symbols of the burgeoning delivery space, bringing everything from groceries and books to food to people's doorsteps.

Among the bikes, perhaps the most prominent are those of shared electric mobility start-up Yulu, especially the Yulu Dex bikes. Unlike other players in the space, Yulu's customer base isn't the companies that deliver the goods, but the delivery partners. That's because. Yulu's bikes are available for anybody to rent.

Thanks to this customer-only focus, it has become a favourite for last-mile delivery and has expanded its reach into 12 cities now. This pivot to the delivery sector is all the more surprising when one considers that it was dictated more by circumstances. "This was never the plan," say Amit Gupta, Co-founder & CEO, and Anuj Tewari, Co-founder & Chief Financial Officer, in unison. Yulu's bikes, especially popular with delivery partners working for platforms like Swiggy Instamart, Zepto, Blinkit, and Flipkart Minutes, have become an essential cog in the quick commerce machine. "Within our operational areas, Yulu is the largest EV partner for quick commerce platforms," says Gupta, with an unmistakable hint of pride in his voice. With the tailwind of that rapid growth, Yulu says it turned Ebitda positive in the second quarter of the current financial year.

But that rapid rise has had its own set of problems. For many commuters, these bikes are an unwelcome addition to the already congested roads. Besides, some riders are known to ride on the wrong side, increasing the risk of road accidents.