Liquidity Events
Electric scooter rentals platform Zypp Electric appoints bankers for $200-M IPO
Gurugram-based electric scooter rental platform Zypp Electric is planning to raise between $150-M and $200-M through an initial public offering (IPO). The company has appointed Axis Capital, SBI Capital Markets, and DAM Capital to manage the transaction.Founded in 2017 by Akash Gupta and Rashi Agarwal, the company operates as an EV-as-a-service firm, providing electric scooters and loaders on rent to delivery executives and e-commerce companies for last-mile delivery. The company plans to initiate the IPO process after concluding its pre-IPO funding round, which is expected to close within the next two to three months.
Between Nov 2019 and Apr 2024, Zypp Electric had attracted about $51-M from Anthill Ventures, Dholakia Ventures, IAN Fund, Nanavati Family Office, Qi Ventures, RiSo Capital, Z Nation Lab, Impact Investment Exchange and others.For FY25, Zypp Electric had reported about Rs.438-Cr in Operating Income and about Rs.108-Cr in Net Loss.
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