IndusLaw, Cyril Amarchand and Talwar Thakore assist in Yulu bike app’s USD82m deal

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India Yulu bike app deal

IndusLaw advises urban mobility app Yulu in raising USD82 million from a series B investment led by US-based Magna International, which had Cyril Amarchand Mangaldas (CAM) as counsel.

The team at IndusLaw comprised senior partner Kartik Ganapathy, partner Faraz Khan and senior associate Aditi Rani.

IndusLaw partner Bharadwaj Jaishankar led the intellectual property team of senior associates Meetali Agarwal and Sana Singh, while the litigation team had partner Punitha Chinnappa and senior associate Tejas Shetty.

Partner Shashi Mathews led the taxation team of principal associate Shruti KP and senior associate Abhishek Boob.

Bengaluru-based Yulu is a mobile app, providing efficient, sustainable and affordable access to bicycles and electric bikes called micro mobility vehicles (MMVs) to reduce traffic congestion.

Yulu also has a strategic partnership with India’s leading two-wheeler manufacturer Bajaj Auto, which provides MMVs for the app.

CAM represented the investors, Magna International and Magna MetalForming GMBH, while Bajaj Auto was advised by Talwar Thakore & Associates.

Magna and Yulu have also set up a new company, Yulu Energy, which will offer battery charging and swapping services to cater to the growing demand for Yulu’s bikes, along with other EV companies and the public.