India, April 22 -- Bengaluru-based electric mobility startup Yulu is reportedly in discussions with a clutch of global impact funds and private equity investors to raise $100 Mn in its Series C funding round.

The round will be a mix of equity and debt, a Yulu spokesperson confirmed the development to Inc42.

The company plans to deploy the proceeds to capitalise on its quick commerce growth.

"The planned fundraise of $100 Mn will comprise a mix of debt and equity. The funding will enable us to expand our fleet size, strengthen our balance sheet, and capture additional opportunities within the urban mobility domain," Yulu said in a statement.

The development was first reported by ET.

Besides, the upcoming round will likely see particip...