Zypp Electric Secures INR 55.4 Cr in Series C Funding This round adds to the USD 15 million raised in May 2024, led by Japanese giant ENEOS and supported by existing backers like 9Unicorns, IAN Fund, and Venture Catalysts.
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Gurugram-based B2B delivery and shared mobility startup, Zypp Electric, has raised INR 55.4 crore (USD 6.5 million) from 16 investors as part of its ongoing Series C funding round.
Regulatory filings show the startup's board approved the issuance of 564 Series C2 CCPS at INR 9,83,005 per share.
Key investors include Ajay Kumar Aggarwal, Samir Goenka, Narinder Bajaj, Kapil Kriplani, Vega Industries, and others. This round adds to the USD 15 million raised in May 2024, led by Japanese giant ENEOS and supported by existing backers like 9Unicorns, IAN Fund, and Venture Catalysts.
Founded in 2017 by Akash Gupta and Rashi Agrawal, Zypp Electric operates as an EV-as-a-service platform, providing e-scooter rentals and delivery services.
The company partners with major brands such as BigBasket, Zepto, Flipkart, and Zomato, catering to the needs of gig workers.
Zypp Electric claims to boast a fleet of 22,000 vehicles, primarily in Delhi NCR, Bengaluru, and Mumbai. Its fiscal year 2024 performance saw a 2.6X revenue growth, crossing INR 290 crore, though losses widened 2.2X to INR 91 crore as it scaled operations.
The fresh infusion will bolster Zypp Electric's mission to enhance EV adoption and delivery efficiency, further solidifying its position as a leader in India's green mobility space.
