Yulu's Series C: Bajaj and Magna Sit Out as CEO Signals Pre-IPO Final Equity Raise

Existing investors Bajaj Auto and Magna International declined to participate in Yulu's $93 million Series C after waiving pre-emptive rights. The Bengaluru e-mobility startup used $5.5 million to buy out seed investors whose funds were nearing end-of-life. CEO Amit Gupta expects this to be Yulu's final equity raise before a public listing, with future fleet expansion financed through debt and leases.