Magna International led a $82m Series B funding round in Yulu.

Magna International, a Canadian parts manufacturer for automakers, led a $82m Series B funding round in Yulu, a technology-driven mobility platform. “This is an incredibly exciting time for Magna to contribute to a sustainable future in urban mobility through this investment in Yulu. Micro mobility presents a great opportunity for additional growth for Magna, and joining forces with Yulu helps us expand our business into this rapidly growing sector,” Matteo Del Sorbo, Magna International executive vice president and Magna New Mobility global lead.