Yulu, a Bangalore-based electric bike sharing platform, which maintains a partnership with Uber stated in the present day it has gained the backing of one of many nation’s largest automaker companies.

The two-year-old startup stated it has entered right into a strategic partnership with Bajaj Auto, which has additionally funded Yulu’s $eight million Series A financing spherical. As a part of the partnership, Bajaj will co-design and manufacture future technology of Yulu two-wheelers, Amit Gupta, cofounder and chief govt of Yulu, instructed TechCrunch in an interview.

Yulu, which operates in Bengaluru and not too long ago entered parts of New Delhi and Mumbai, has raised about $18.5 million thus far, he stated.

The startup maintains over 3,000 electric bikes on its platform. A buyer can lease the bike by means of Yulu’s app for 14 cents, pay one other 14 cents for every hour of utilization after which park it on the nearest zone.

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