Yulu Plans to Expand Operations in India and Abroad Expects to Turn Profitable
E-bike rental startup Yulu , which is looking to go public, expects to turn operationally profitable by September and plans to expand its presence in India and abroad, its chief executive said. The startup, which currently operates in Bengaluru, Delhi and Mumbai, will venture into cities including Hyderabad, Pune, Chennai, Kolkata and Ahmedabad over the next 15 months. It will also explore partnerships with local entrepreneurs in smaller markets such as Varanasi, Agra and Goa. "Yulu is open to give its technology platform to anyone who wants to run a small fleet in cities where we do not have a long-term plan to run it," CEO Amit Gupta told Reuters. The plan comes amid a broader government push for the electrification of shared transport and at a time when Yulu relies on its tie-ups with delivery firms Zomato , Swiggy and Zepto to fend off rivals, including Gogoro-backed Zypp Electric and SoftBank-backed Ola Electric . Delivery executives account for 60 percent of Yu