Yulu Aims At Growth, Appoints Anuj Tewari As Co-Founder

Opportunity India Desk
Opportunity India Desk Nov 15 2023 - 2 min read
Yulu Aims At Growth, Appoints Anuj Tewari As Co-Founder
The company expects to record a revenue growth of 7-8 fold in FY 2023-24 and aims to grow its EV fleet four-fold over the next year.

Leveraging its CFO Anuj Tewari’s skills and experience for the growth of the company, Yulu, a micro-mobility company has appointed him as a Co-Founder. He will join the existing three-member founding team Amit Gupta, CEO; Naveen Dachuri, CTO and RK Misra, President Ecosystem Partnerships.

As CFO, Tewari is said to be instrumental in shaping Yulu’s growth strategy. Since joining the company in 2020, he has led complex fundraising negotiations, helping Yulu raise over USD 105 million across equity and debt funding. He has also worked closely with the leadership to make Yulu India’s only unit-economics positive business in its category and to put the company on track to becoming EBITDA-positive by the year-end.

Amit Gupta said, “We could not have asked for a better, or more natural, choice than Anuj to join Yulu’s founding team. Over the last three years, his rich experience, uncanny insights, sheer commitment and ‘founder mentality’ have helped Yulu embark on a strong growth trajectory. His presence will be a huge asset as we pursue our ambitious growth targets. On behalf of all the co-founders and the entire Yulu team, I heartily congratulate Anuj on his new role.”

The EV firm says the elevation at Yulu – he is now both Co-Founder and CFO – comes at a time of rapid growth for the company. It expects to record a revenue growth of 7-8 fold in FY 2023-24. It also aims to grow its EV fleet four-fold over the next year, while cornering a significant share of the last-mile mobility market in Bengaluru, Delhi, Gurugram, Mumbai and Navi Mumbai over the same period.

Anuj Tewari said, “I am humbled as I accept this responsibility and look forward to working with this unstoppable team as we strive to realise Yulu’s mission of making urban mobility accessible, available, and affordable for all, while supporting strong environmental and social outcomes for commuters and communities across Indian cities.”

Tewari has over two decades of professional experience and has worked across both traditional corporates as well as start-ups. He was previously with a Kuwait-headquartered logistics firm, Agility. He is a qualified CA and CFA.

Earlier, Yulu had announced a partnership with Zepto to expand Yulu’s presence in the fast-growing hyperlocal delivery category in Bengaluru, Mumbai, Navi Mumbai, Delhi, and Gurugram, while enabling Zepto to move to an all-electric vehicle fleet and maximise green deliveries.

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