Zypp Electric raises $1-M from Northern Arc

Zypp Electric, which operates in the last-mile space, has raised USD 1 million (about INR 7.6 crore) in debt funding from Northern Arc to expand its electric vehicle (EV) fleet services. The company, which is looking to deploy 1.5 lakh e-scooters in the country over the next three years, is claimed to be the first EV logistics player to turn EBITDA positive.