VC Fund Investments
Electric scooters rental co Zypp raises $7-M led by Anthill Ventures, 9Unicorns
Gurugram-headquartered Zypp Electric, an EV-based last-mile delivery service provider, has raised around USD 7 million in a Series A round co-led by 9Unicorns and Anthill Ventures. The round also witnessed participation from Nanavati Family Office, We Founder Circle, Silicon Valley-based Riso Capital Fund and Dholakia Ventures along with existing investors Venture Catalysts and IAN Fund. Angel investors like Tarun Saraf of Warehouse Now, Rahul Khera of AWL and Arjun Seth and Mark Joseph also invested in the latest round. With this, the startup has now raised USD 12.5 million so far. Co-founded by Akash Gupta and Rashi Agarwal in 2017, Zypp provides electric scooters on rent to its clients. It would use the fresh funds to scale up the business over the next 12 months, for building an asset-light EV business and for having a fintech model of EV onboarding. The company plans to expand from 10 cities to 25 cities and grow its EV fleet to 100k EVs in the next few years.
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