InMobi’s co-founder Amit Gupta has moved on to start his new venture, an IoT-enabled bicycle renting company Yulu, reports YourStory. Gupta also updated the development on his Linkedin profile as well.

Bangalore-based Yulu, will allow people to rent dockless bicycles via Yulu app. How it works? An Yulu app user will be able to nearest available bicycle on the app, and once near the bike, a user can unlock it using a QR code on the app, and the money will be deducted from the digital wallet in the Yulu App. Yulu says on its website that bicycle as mode of transport is most suitable for short routes.

Yulu is co-founded by three senior-level executives, Gupta (CEO), RK Misra ( President-Ecosystem Partnerships), and Naveen Dachuri (CTO). Misra had founded and exited Tenet Technologies (Sold to Hughes) and Traveljini.com (sold to ICICI Ventures) post which he engaged himself with organizations like Carnegie India , Center for Smart Cities, SAHYOG (Founder), BJP, JNNURM for MoUD & ABIDE of Govt of Karnataka. And, Dachuri last played leadership role at Ascent-Consulting where he architected and implemented analytics platform for US Federal Aviation Administration. Prior to that, he was Technical Director for Data Analytics at BIAS Corporation. He also co-founded Learnora, an online educational platform.

Competition

India is suddenly speeding up at capturing bicycles space in new-age ways.  In October, Self-drive car rental company Zoomcar launched PEDL, a cycle rental service in the country,  starting with Bangalore, Chennai and Kolkata. In the same month, Chandigarh-headquartered hyperlocal delivery startup and auto rickshaw aggregator Jugnoo has announced addition of bicycles in its delivery vertical. Currently, 50 bicycles are in the system that are doing deliveries in 3 cities- Chandigarh, Noida, and Gurgaon.

China’s bicycle sharing Alibaba Group-backed Ofo is also looking to set up shop in India in 2018. There are some players which are already offering cycle renting or sharing services via tech platforms in the country, like LetscycleRentomo,RentOnGo,Wicked Ride– to name a few.