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Micro Mobility Solutions To Reduce Traffic
Yulu Co-founder and CEO Amit Gupta talks about the tech-driven mobility platform that helps reduce urban pollution
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What was the problem you were looking to solve?
Less than 20 per cent of people in India have access to any personal vehicle. At the same time the country’s GDP has been growing the need for mobility. While people are willing to invest in their own vehicles there is also a demand for growing in mobility as a service, not just in India but also, globally. Yulu’s mission is to increase mobility and cater to the population of India, while reducing traffic and air pollution in the larger cities.
How do you see this growing?
We have all the components required for any business to happen, which means that there has to be a perfect fit for the consumer where they are able to get the product at the right price at the right effect, also the supported ecosystem, where we are not doing unnecessary damage to the environment or inconveniencing other citizens.
Last but not the least, the fundamental of running a business is also to make money. Yulu manages to build upon these three pillars and the focus shall now be upon hyper growth. The experience gained by applying the handbook in Bangalore, Delhi, etc. can be further expanded upon and help devise efficient strategies for growth. It’s a collective effort where we are getting help from the government in a very significant manner through permits and space for bike parking areas.
Then our partnership w ith cooperates were also doing the same thing by giving us access to their spaces and promoting Yulu Services among their employees. Bus systems in the metros have also played a part.
How do you plan to scale up your business?
This business belongs to a market which requires a sufficient amount of financial aid and there are financial institutions in place. To gain access to these funds, certain hurdles need to be jumped over. A foundation has to be built upon which one can get a large business, which would generate impact to the consumers and the society, while performing financially well.
Yulu’s playbook is to create a strong code, on top of which the company can generate a lot of financial goodness and following which Yulu can gain access to lease financing and hence grow the business to the next level.
How has the pandemic affected your business?
Smart, Shared, Sustainable and Small – so these are the 4 S’ that probably define the new narrative of mobility. From the Yulu perspective, we also take the fifth ‘S’ of this mobility paradigm – which is Self-driven. So, we think we are relevant within these Corona times and even beyond these Corona times, where the solution is highly scalable, which can be used by error.
What is the one wish you have for yourself and your company?
I want to see more companies picking up a social problem that is unique to India. Just because a business is not turning in China or the United States, not many entrepreneurs are willing to take that problem head on because they worry about funding and trends in the country. I truly want to see startups make a difference to our healthcare, education and our quality of life in general.