In continuation to our earlier post today where we reported that InMobi co-founder Amit Gupta had quit the company to start his own venture which is a bicycle sharing startup called Yulu Bikes. The startup is now reported to begin operations in Bengaluru in the coming weeks.

Yulu, which is an IoT-enabled venture, will allow people to rent dockless bicycles via the Yulu Bikes app.

In beginning, Yulu will start with a fleet of a few hundred bicycles which is said to be powered by GPRS, GPS and Bluetooth technology. Users can book them via the iOS or Android app, just like they book a cab, and the bikes can be unlocked via QR codes. Yulu will charge the rider per 30 minutes of use.

[caption id="attachment_122532" align="aligncenter" width="995"]Yulu bike Yulu Bike[/caption]

Riders can rent and return bikes from all major locations in the city via the app. And payments can be made via “a secure and hassle-free digital wallet”. It is however not clear that which digital wallet will be used by the startup.

Moreover, Yulu is also said to be working with the local government to dedicate more lanes to bikes/bicycles, and also allot safe parking spaces for them.

“The bike-sharing space is pretty new India. At the same time, there are things happening in the country, as far as competition is concerned,” Gupta was quoted as saying.

Founded by Amit Gupta and his other co-founders - - R.K Misra, Naveen Dachuri and Hemant Gupta, Yulu's vision is to reduce traffic congestion by providing a scalable, affordable, efficient and clean solution for the first mile, last mile, and short distance commute.

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