Yulu Bikes has raised USD 82 million in a Series B Funding round led by Magna International Inc.
This round also saw participation from Bajaj Auto Limited, an existing investor in Yulu Bikes1 .
IndusLaw advised and represented Yulu Bikes on this deal.
As part of the transaction, Magna and Yulu have also set up a new company under the name Yulu Energy Private Limited. Yulu Energy shall be engaged in the business of providing battery charging and swapping services to cater to the demand from Yulu Bikes, other EV companies and the public.
Deal value – USD 82 million
INDUSLAW team –
Transaction Team: Kartik Ganapathy (Senior Partner), Faraz Khan (Partner) and Aditi Rani (Senior Associate)
IP Team: Bharadwaj Jaishankar (Partner), Meetali Agarwal (Senior Associate) and Sana Singh (Associate)
Tax Team: Shashi Mathews (Partner), Shruti KP (Principal Associate), and Abhishek Boob (Senior Associate)
Litigation Team: P Chinnappa (Partner) and Tejas Shetty (Associate)
Other Law firms involved-
• Cyril Amarchand Mangaldas – Counsel for Magna International Inc. and Magna MetalForming GMBH
• Talwar Thakore & Associates – Counsel for Bajaj Auto Limited
