Zypp Electric's Electrifying Growth Story
May 27, 2024, 9:30 pm
Zypp Electric, a B2B delivery and shared mobility startup, recently secured a hefty $14 million in its Series C round from Japan-based ENEOS Oil & Energy Asia. This investment marks a significant milestone for the Gurugram-based company, propelling it towards further expansion and innovation in the electric vehicle space.
Founded in 2017, Zypp Electric has been on a mission to revolutionize last-mile delivery services by providing electric vehicle renting and delivery solutions across the country. With a fleet of 21,000 electric scooters, the company has made a significant impact on the environment, saving millions of kilograms of CO2 emissions.
The recent funding round, led by ENEOS, is a testament to Zypp Electric's potential and growth trajectory. The company aims to raise a total of $50 million in this round, with plans to expand its electric scooter fleet to 200,000 by 2026. Additionally, Zypp Electric intends to increase its presence across India from eight cities to 15, solidifying its position as a key player in the EV market.
With the rapid growth of ecommerce and quick commerce in India, Zypp Electric is well-positioned to capitalize on the booming last-mile delivery market, projected to reach $7 billion by the end of 2024. By providing delivery services for groceries, medicines, food, and ecommerce packages, Zypp Electric has established itself as a trusted partner for major players like Flipkart, Uber, and BigBasket.
The company's commitment to sustainability and innovation is evident in its efforts to reduce carbon emissions and promote eco-friendly transportation solutions. Through its EV fleet, Zypp Electric has made over 50 million deliveries, saving 31 million kilograms of carbon emissions between January 2023 and March 2024.
Looking ahead, Zypp Electric's ambitious plans to expand its fleet, increase its presence, and venture into new markets demonstrate its determination to lead the charge towards a greener, more sustainable future. With a strong foundation, strategic partnerships, and a clear vision, Zypp Electric is poised for continued success in the evolving landscape of electric mobility.
Founded in 2017, Zypp Electric has been on a mission to revolutionize last-mile delivery services by providing electric vehicle renting and delivery solutions across the country. With a fleet of 21,000 electric scooters, the company has made a significant impact on the environment, saving millions of kilograms of CO2 emissions.
The recent funding round, led by ENEOS, is a testament to Zypp Electric's potential and growth trajectory. The company aims to raise a total of $50 million in this round, with plans to expand its electric scooter fleet to 200,000 by 2026. Additionally, Zypp Electric intends to increase its presence across India from eight cities to 15, solidifying its position as a key player in the EV market.
With the rapid growth of ecommerce and quick commerce in India, Zypp Electric is well-positioned to capitalize on the booming last-mile delivery market, projected to reach $7 billion by the end of 2024. By providing delivery services for groceries, medicines, food, and ecommerce packages, Zypp Electric has established itself as a trusted partner for major players like Flipkart, Uber, and BigBasket.
The company's commitment to sustainability and innovation is evident in its efforts to reduce carbon emissions and promote eco-friendly transportation solutions. Through its EV fleet, Zypp Electric has made over 50 million deliveries, saving 31 million kilograms of carbon emissions between January 2023 and March 2024.
Looking ahead, Zypp Electric's ambitious plans to expand its fleet, increase its presence, and venture into new markets demonstrate its determination to lead the charge towards a greener, more sustainable future. With a strong foundation, strategic partnerships, and a clear vision, Zypp Electric is poised for continued success in the evolving landscape of electric mobility.