Yulu’s Next Phase, Jar Gets Breather, and ShepHertz Technologies’ AgentAnywhere

Yulu started as a shared electric-mobility company for urban commuters. The business that eventually worked was different. Today, about 95% of its revenue comes from renting vehicles to gig workers delivering for platforms such as Blinkit, Zepto, Swiggy and Zomato. With its newer Express vehicle, Yulu can also move into parcels, intra-city logistics and, where regulation allows, bike taxis.

That makes Yulu less dependent on which consumer platform wins. The rider may switch from Blinkit to Amazon or Rapido, but still needs a vehicle, maintenance and access to energy.

Its latest $93 million fundraise reflects this transition. About $57.5 million is fresh equity, $30 million is debt and $5.5 million is secondary. The reported post-money valuation is around $170 million, compared with roughly $222 million in its previous extended Series B. So Yulu appears to have taken a down round of about 23%.

Interestingly, the business looks better at the lower valuation. FY25 operating revenue nearly doubled to ₹237.4 crore. Rental income contributed ₹201 crore, while the EBITDA loss narrowed sharply. Yulu says it has been monthly EBITDA-positive since April 2025.

The caution is that EBITDA is generous to a fleet business. Yulu recorded ₹66 crore of depreciation and amortisation in FY25, equivalent to about 28% of operating revenue. Vehicles and batteries wear out, need maintenance and eventually have to be replaced.

That matters because Yulu wants to expand from roughly 50,000 vehicles to 200,000 within two years. It has missed large fleet targets before. In 2019, it spoke about reaching 100,000 vehicles by the end of 2020.

The opportunity is still large. India’s gig workforce is projected to reach about 23.5 million by 2030, while quick commerce, e-commerce and intra-city parcel volumes continue to grow. Yulu only needs a small portion of those workers to build a much larger business.

Let’s go through what else is happening in Indian startup world - Grab your simmering cup of StartupChai.in and unwind with our hand-brewed memes.

“Haal Chaal Theek Thaak Hai”: Karnataka HC Quashes Sessions Court Orders to Defreeze Jar’s Accounts

The Karnataka HC has quashed orders to defreeze digital savings startup Jar’s accounts and release precious metals.

The court said police can freeze accounts under BNSS Section 106 without prior Magistrate approval, but must promptly report it.

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“Apna Sapna Money Money”: Resilient To Sell Up To 4.98% Paytm Stake

Vijay Shekhar Sharma-controlled Resilient Asset Management B.V. plans to sell up to 4.98% stake in Paytm through a block market trade.

The economic value from the transaction will be retained by Antfin under an existing OCD agreement.

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“Purana Saal, Naya Maal”: ShepHertz Technologies Launches Agentic AI Platform

ShepHertz Technologies has launched AgentAnywhere, a sovereign agentic AI platform for enterprises and governments.

It lets organizations run AI agents within their own infrastructure, while keeping data protected and auditable.

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“Hamne Bhi Bana Liya”: Swiggy Launches 24x7 AI Assistant For Restaurant Partners

Swiggy has launched Guru, a 24x7 AI Business Partner for restaurant partners, available in more than 20 vernacular languages including Hindi, Kannada and Telugu.

The tool helps restaurants manage ad and discount campaigns, access payout and tax summaries, analyse sales funnels, and review more than 30 performance indicators.

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“Sapne Dekhe Bade Bade”: Atomberg To Raise Over ₹450 Cr Via IPO

Atomberg Technologies is gearing up for an IPO, with shareholders approving a fresh issue of up to Rs 450 Cr.

The consumer appliance startup also plans to raise up to Rs 90 Cr through a pre-IPO placement.

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1. DeHaat Honest Farms has raised Rs 35 Cr in a pre-Series A round led by OTP Ventures, with Sadev Capital and Maiuni Ventures also participating.

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2. Keertana Finserv has raised ₹230 Cr, around $24 Mn, from Neo Wealth Partners in its maiden external equity round.
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3. Hyderabad-based Tenet Diagnostics has raised $30 Mn, around ₹287 Cr, led by Tata Capital Healthcare Fund III and Blue Earth Capital.
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4. Chandigarh-based travel company, Atravelq has raised an undisclosed amount from individual investors.
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