Zypp Electric is a technology company.
Zypp Electric has raised $27.0M across 2 funding rounds.
Zypp Electric has raised $27.0M in total across 2 funding rounds.
Zypp Electric is India's leading tech-enabled EV-as-a-Service platform, founded in 2017, providing electric scooters, cargo vehicles, and bicycles on a rental and subscription basis for sustainable last-mile delivery.[1][2][4][8] It serves local merchants, e-commerce giants, food delivery platforms, and gig workers (delivery executives), solving high delivery costs, pollution, and operational inefficiencies through an asset-light model featuring IoT/AI-enabled vehicles, battery swapping stations, and fleet management.[1][3][4] The company operates over 22,000 EVs, has achieved 20.5 million emission-free deliveries, registered 3X revenue growth in FY24, and deployed 20,000 e-scooters in 2023, demonstrating strong growth momentum amid India's quick commerce boom.[4][5]
Zypp Electric, formerly known as Mobycy, was founded in 2017 in Gurgaon, India, by Akash Gupta (CEO and co-founder) and his team, starting as a modest venture focused on electric mobility.[4][7][8] The idea emerged from addressing last-mile delivery challenges in India's urban logistics, initially with a smart e-bike rental app to provide sustainable options for low-income gig workers and drivers.[6] Early traction came from solving EV adoption pain points like battery swapping, maintenance, and user education through apps and support, helping over 10,000 drivers spend less and earn more; pivotal funding included over $35M raised, with a $25M Series B in late 2022 from investors like 9Unicorns, Indian Angel Network, and ENEOS.[1][3][6] Akash Gupta's recognition as one of BusinessWorld's 40 Under 40 in 2022 marked a key milestone.[6]
Zypp Electric rides India's electric mobility wave, fueled by government pushes for carbon reduction, fossil fuel independence, and quick commerce growth, where EVs cut costs in last-mile logistics for groceries, meds, food, and e-commerce.[4][5] Timing aligns with urban pollution crises and EV incentives, positioning it as the largest player transforming deliveries with 22,000+ vehicles and a 200,000 EV fleet target by 2028.[3][4][5] It influences the ecosystem by accelerating EV adoption for gig workers, partnering on infra/tech, and pioneering data-driven ops/AI, helping make commercial logistics 50% electric while supporting 10,000+ drivers.[5][6][7]
Zypp Electric is poised to scale to 30 cities by end-2025 (already progressing), hit 200,000 EV fleet, and expand globally via franchises and AI tools like FleetEase.ai, capitalizing on renewable energy integration and quick commerce demand.[5][6][7] Trends like AI fleet optimization, battery tech advances, and policy support will shape its path, evolving its influence from India-focused disruptor to global sustainability leader in logistics. This builds on its mission-zero-emission roots, turning urban delivery challenges into scalable, green opportunities.[1][8]
Zypp Electric has raised $27.0M in total across 2 funding rounds.
Zypp Electric's investors include Antler, Shift Capital, Venture Catalysts | India's First Integrated Incubator, Amit Gupta, Guillaume Lestrade, Kunal Shah, Owen Simonin, 100X.VC, Anicut Capital, Early Light Ventures, Harshavardhan Chitale.
Zypp Electric has raised $27.0M across 2 funding rounds. Most recently, it raised $20.0M Series B in February 2023.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Feb 1, 2023 | $20.0M Series B | Antler, Shift Capital, Venture Catalysts | India's First Integrated Incubator, Amit Gupta, Guillaume Lestrade, Kunal Shah, Owen Simonin | |
| Sep 1, 2021 | $7.0M Series A | 100X.VC, Anicut Capital, Antler, Early Light Ventures, Shift Capital, Venture Catalysts | India's First Integrated Incubator, Amit Gupta, Guillaume Lestrade, Harshavardhan Chitale, Kunal Shah, Owen Simonin |