The EV delivery startup Zypp has raised around $7 million in a Series A round, co-led by 9Unicorns and Anthill Ventures along with the participation of family offices and early-stage funds Nanavati Family Office, We Founder Circle, Silicon Valley-based Riso Capital Fund, Dholakia Ventures, and existing Investors Catalysts and IAN Fund.
Angel investors counting Tarun Saraf of Warehouse Now, Rahul Khera of AWL logistics; Arjun Seth, Mark Joseph. With this funding, Zypp has now raised $12.5 million so far.
Based in Gurgaon, founded in the year 2017 by Akash Gupta, Rashi Agarwal. the platform provides electric scooters on rent to its clients and aims to disrupt and transform the future of last-mile delivery with the right EVs, battery swapping infrastructure, internet of things, and AI/ML platform
It works with about 200-odd business-to-business grocery and other hyperlocal delivery companies with over 2,000 electric vehicles (EVs) across cities such as Delhi-NCR, Bengaluru, Hyderabad, Mumbai, and Pune.
“Zypp would be using the fresh funds to rapidly scale up the business over the next 12 months and in building an asset-light EV business with simple charging solutions, having a fintech model of EV onboarding and focusing on technology to utilize the fleet capacity so as to help generate better savings and earnings for delivery executives. Zypp would continue to expand from 10 cities to 25 cities and grow its EV fleet to 100,000 EVs in the next few years,” stated Akash.
Zypp will use these funds to rapidly expand the business over the next 12 months in building an asset-light EV business with simple charging solutions and plans to expand its fleet to 10,000 vehicles across 25 cities.