India, July 4 -- Electric mobility startup Yulu is raising INR 70 Cr (about $8.2 Mn) from its cofounders and existing investors via a rights issue.

As per the startup's regulatory filings accessed by Inc42, Yulu's board, on June 17, passed a resolution to allot 5,004 Series B3 CCPS for INR 1,41,226.3 apiece to its existing shareholders, including cofounders and key investors Bajaj Auto and Magna International.

Among the cofounders, Amit Gupta will invest INR 28.2 Cr and Hemant Gupta, Naveen Dachuri, and Rajendra Kumar Mishra will infuse INR 14.1 Cr each. Bajaj Auto and Magna Internationalwill invest INR 2.8 Lakh each in the startup.

Meanwhile, as per another MCA filing dated June 30, Yulu raised INR 25 Cr (about $2.9 Mn) from Magna Int...