Indian electric vehicle startup Yulu secured $93 million in a Series C funding round led by GEF Capital Partners between August 10 and 14, 2026. The round was the largest among twelve startups that collectively raised $139.5 million during the week, marking a 44% decline from the previous week's $274.4 million raised by 22 startups, according to inc42.com.
The funding round for Yulu was the primary driver of the week's capital influx, accounting for a significant share of the total amount raised ahead of India's Independence Day on August 15. Other startups that raised funds during the same period included Centricity, which secured $29 million in a round led by SMBC Asia Rising Fund, and Discovered Materials, which raised $9 million in a seed round backed by Lightspeed India Partners and Y Combinator, among others, inc42.com reported.
Yulu operates in the clean tech sector, focusing on electric vehicles with a business-to-consumer model. The $93 million Series C round led by GEF Capital Partners underscores growing investor interest in sustainable mobility solutions in India. This round stands out in the current funding landscape, which has seen a general slowdown compared to previous weeks, highlighting Yulu's strong positioning in the electric vehicle market.
The total $139.5 million raised by twelve startups from August 10 to 14 reflects a concentrated funding environment, with Yulu's round representing nearly two-thirds of the week's capital. The next major funding update will provide further insight into whether this trend of concentrated large rounds continues in the Indian startup ecosystem, as reported by inc42.com.