Angel Investments
Electric scooter rental services provider Zypp Electric raises $6.5 M in ongoing Series C round
Gurugram-based B2B (business-to-business) delivery and shared mobility startup Zypp Electric is raising INR 55.4 crore (USD 6.5 million) from Ajay Kumar Aggarwal, Samir Goenka, Narinder Bajaj, Kapil Kriplani, Vega Industries, Gagan Khanna, Supersonic Carrier, Nirmal K Bathwal and ten other investors as part of the ongoing Series C funding round at a valuation of around USD 335-350 million. The company is to issue 564 Series C2 CCPS at INR 9,83,005 each to raise the investment.Founded by Akash Gupta and Rashi Agrawal in 2017, Zypp Electric is an EV-as-a-service platform offering electric vehicle rentals along with delivery services through its e-scooter fleet for gig workers. The company claims to have around 22,000 active vehicles in its fleet, with 15,000 in Delhi NCR, 4,000 in Bengaluru, and 1,200 in Mumbai.
Between Nov 2019 and Apr 2024, Zypp had raised about USD 50 M from IAN Fund, Impact Investment Exchange, Anthill Ventures, Dholakia Ventures, Nanavati Family Office, Qi Ventures, RiSo Capital, Z Nation Lab and others.For FY24, Zypp Electric had reported about INR 293 Cr in Operating Income and about INR 91 Cr in Net loss.
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