Zypp
Overview
Zypp Electric is an electric mobility startup based in Gurugram, India, focusing on eco-friendly last-mile delivery solutions. Founded in 2017 by Akash Gupta, Rashi Agarwal, and Tushar Mehta, Zypp Electric has raised approximately $76.5 million in funding from investors such as ENEOS Group and Gogoro. It provides electric scooters and bicycles for rent to businesses, aiming to reduce delivery costs and carbon emissions through its IOT and AI-enabled fleet.
Recent Developments
- In FY25, Zypp Electric posted a revenue of Rs 455 crore, marking a 50% growth year-on-year, driven by expansion in key cities and growth in the quick commerce segment.
- Zypp closed FY25 with plans to achieve EBITDA breakeven in the next one to two quarters and reported a significant increase in their gig delivery partners, facilitated through a daily rental EV platform.
- In March 2025, the company reduced its workforce by about 10% as part of regular efficiency exercises aimed at scaling sustainably and enhancing profitability.
- Zypp Electric announced the deployment of 500,000 e-scooters by FY27, highlighting partnerships with electric scooter companies for fleet expansion.
- The company has secured a total of $15 million in Series C funding, led by Japanese energy firm ENEOS, aimed at increasing their fleet to 200,000 electric scooters and expansion to 15 Indian cities by 2026.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2017 |
| Headquarters | Gurugram, India |
| Founders | Akash Gupta, Rashi Agarwal, Tushar Mehta |
| Revenue | Rs 455 crore (FY25) |
| Industry | Electric Mobility, Logistics |
| Number of Employees | Approximately 1150 |
Early History
Zypp Electric commenced operations in 2017 initially as a bike-sharing platform known as Mobycy. Founders Akash Gupta and Rashi Agarwal pivoted the business model towards electric vehicles (EVs) after recognizing their potential impact on reducing urban pollution. They started by offering electric scooter rentals for last-mile commutes. The transition to electric bikes led to partnerships with e-commerce and logistics companies aiming to adopt more sustainable delivery options. Zypp's innovative approaches quickly led to its establishment as a prominent player in the Indian EV sector.
Company Profile and Achievements
Zypp Electric is a tech-enabled EV-as-a-service provider. The company operates on a unique asset-light model, allowing public investments to drive fleet expansion. Some notable achievements include:
- Exponential Growth: Revenue increased from Rs 125 crore in FY23 to Rs 306 crore in FY24, driven by significant fleet expansion and strategic partnerships with e-commerce giants like Amazon, Swiggy, and Zomato.
- Fleet Expansion: In 2023, Zypp doubled its fleet size to 21,000 vehicles, underscoring the growing demand for EV solutions across urban India.
- Sustainability Milestones: Zypp successfully reduced carbon emissions equivalent to the planting of 7.6 million trees.
- Acknowledgments: The company was ranked as Asia’s top growing startup by the Financial Times, emphasizing its influence and leadership in the sector.
Current Operations and Market Position
Currently, Zypp Electric's operations encompass major cities like Delhi, Mumbai, and Bengaluru, where it facilitates last-mile delivery for various sectors through its fleet of over 22,000 electric scooters. The company has cornered a substantial portion of the Indian EV logistics market with its robust partnerships in the quick commerce and food delivery sectors. Zypp's ability to leverage AI and IoT technologies to optimize delivery routes and reduce operational costs grants it a competitive edge. It targets substantial growth through strategic collaborations, aiming to capture 25% of the Indian EV fleet market within the next five years.
Zypp Electric Scooter Price
Zypp Electric offers flexible pricing models for its rental services aimed at making EV access affordable. Prices vary based on scooter types and rental duration, creating affordability for businesses over traditional fuel-powered vehicles through significant cost savings on fuel.
Zypp Electric Scooter 15,000 Price
The company offers specific pricing strategies for budget-oriented electric scooters often aimed at small businesses or individual gig workers, although detailed pricing varies based on configurations and service inclusions.
Conclusion
Zypp Electric has emerged as a significant player in India’s rapidly growing EV sector, focusing on sustainability and efficiency in last-mile logistics. With strategic partnerships, technological innovations, and increased investment in fleet expansion, Zypp is poised to achieve robust growth and potentially become one of the leading forces in driving India toward a carbon-free transportation landscape by 2030. The company’s upcoming plans for IPO clearly indicate its ambition to cement a strong foothold in the global EV market.