Business Remedies | Rajshree Upadhyaya | June 14,2025 | Amit Gupta’s entrepreneurial journey is a compelling narrative of innovation, resilience, and purpose. Born and raised in Kanpur in a business-oriented family, Amit was exposed to the mechanics of enterprise at an early age. This foundation, combined with a natural inclination for problem solving, led him to pursue engineering at IIT Kanpur, where his fascination with technology deepened. A brief but enriching stint at Harvard Business School later sharpened his strategic thinking. Though his early career at Aditi Technologies and Citi Financial provided valuable operational experience, Amit’s real drive was to create something impactful from the ground up.
That urge materialized in 2006 when he launched Analytics Works, followed by mKhoj, which soon evolved into InMobi. As one of InMobi’s co-founders, Amit played a pivotal role in shaping the company’s global monetization strategy. Under his leadership, InMobi expanded across the US, China, and Europe, becoming one of India’s first profitable internet unicorns. The venture not only disrupted the mobile advertising space but also inspired a generation of Indian entrepreneurs to think globally. Amit’s role in incubating Glance, a lock-screen content platform that became another success story, reinforced his ability to identify emerging trends and execute at scale.
Yet by 2017, Amit felt a growing urge to address more pressing societal issues. A visit to China introduced him to dockless bike-sharing, which sparked a realization about India’s urban challenges, growing congestion, air pollution, and inefficient short-distance commuting. This led to the founding of Yulu, along with Naveen Dachuri, RK Misra, and later Hemant Gupta. The initial rollout in Bengaluru featured lightweight pedal bikes designed for first- and last-mile connectivity. However, real-world feedback revealed that India’s weather and commuting needs required more than human-powered solutions. Users wanted efficiency without physical exertion, prompting Yulu’s rapid shift to electric vehicles.
In 2019, Yulu launched the Miracle, a compact IoT, enabled electric scooter that required no license and could be rented via a mobile app. The innovation struck a chord with urban commuters. When Bajaj Auto came on board as a strategic investor, it brought manufacturing expertise and helped tailor the vehicles for Indian roads. Then came the pandemic in 2020. With cities locked down and ridership vanishing overnight, Yulu faced an existential crisis. But instead of scaling back, Amit pivoted. He repurposed the fleet to support gig economy workers and launched Yulu DeX, an EV designed for last-mile delivery. Strategic tie-ups with platforms like Swiggy, Blinkit, and Zomato followed. To keep the wheels turning without delays, Yulu partnered with Magna International to create Yuma Energy, a battery-swapping network that today powers over a million swaps each month.
By FY2025, Yulu had scaled to over 45,000 EVs across 12 cities, completed more than 100 million rides, and saved 32 million kilograms of carbon emissions. With its cost-per-ride up to 40% lower than fuel vehicles, and a fleet optimized through AI and real-time tracking, Yulu emerged as India’s first EBITDA-positive shared mobility startup. Amit’s approach was never to replicate Western models blindly. Instead, he built a hyperlocal playbook, working with municipal bodies, setting up designated parking zones, and deploying city-specific strategies.
Even as Yulu’s core business grows, Amit is preparing for the future. The upcoming Yulu Express will cater to heavier loads and longer distances, while a franchise model is being piloted in cities like Kochi and Indore. International expansion is on the horizon, with ASEAN and North American cities under consideration. Beyond Yulu, Amit remains active in India’s startup ecosystem as an angel investor, backing ventures like HealthifyMe and Vahak.
For Amit Gupta, mobility is not just a market, it’s a mission. Yulu is more than a company; it’s a movement rooted in empathy, built with discipline, and aimed at creating cleaner, more efficient cities. His story continues to unfold, but the impact is already clear: one electric ride at a time, he is helping India, and soon the world, move forward.
Written & Edited By:
Rajshree Upadhyaya
