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Aya Lin · · 1 min readIn brief: Yulu in talks to secure funds from Xiaomi’s Shunwei, others, sources say
- Indian bike-sharing startup Yulu is in advanced talks to bank US$15 million in a series A round from Chinese investors, including Shunwei Capital, Xiaomi’s venture capital arm, and ex-InMobi chief business officer Atul Satija, Livemint reported, citing three people familiar with the matter.
- The startup has already received commitments from existing investors, including Blume Ventures, and multiple high-net-worth individual investors for the round, one of the people said.
- If Shunwei commits in the current round, Yulu’s ongoing series A round may exceed US$15 million, according to one source.
Editing by Charmaine de Lazo
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