Zypp Electric has declared the completion of its $15 million Series C investment round, with a successful launch. Japan’s ENEOS was leading this round. As part of its continuing $50 million round, which is divided into $40 million in stock and $10 million in debt, the Series C1 fundraising includes $15 million in equity close.
Renowned investors, such as ENEOS, joined the equity investment alongside current investors, such as 9unicorns, IAN fund, venture catalysts, WFC, and others.
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By 2026, Zypp plans to use the Series C financing to increase the number of electric scooters in its fleet from 21,000 to 2 lakh, and to offer its services in 15 cities around India.
Akash Gupta, Co-founder & CEO of Zypp Electric, stated, “Securing $15 million in Series C1 funding is a pivotal moment & strong validation amid the current funding environment for Zypp Electric. This investment propels our mission to revolutionize last-mile delivery with sustainable EV solutions.”
Zypp Electric has opened offices in Hyderabad and Mumbai and reported revenue of Rs 325 crore for FY23–24. Between January 23 and March 24, Zypp Electric delivered over 50 million shipments using electric cars, which is equivalent to planting 76 lakh trees worldwide. Since the company began operations, 31 million kilogrammes of carbon emissions have been significantly reduced as a result of its ecologically friendly measures.
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Zypp Electric has entered the three-wheeler transport market and plans to have over 1000 electric L5 loaders in its fleet of electric vehicles soon. BigBasket, Zepto, Flipkart, Myntra, Zomato, Swiggy, Blinkit, Uber, Porter, Rapido, 1MG, Delhivery, and Blue Dart are some of Zypp’s principal partners.
About Zypp Electric
Zypp Electric platform powered by tech. Users may locate and unlock scooters by scanning QR codes with the app. The platform rents double-battery scooters and provides last-mile delivery, EV rentals, and rider services. It also offers riders health, accidental, and personal accident insurance.
