EV-based logistics firm Zyngo raises $5-M led by Delta Corp

Gurugram-based third-party logistics service provider Zyngo EV Mobility has attracted USD 5 million in a pre-Series A funding round led by Delta Corp Holdings. The round also saw participation from existing investors, including LC Nueva Investment Partners LLP. The funds will be used to increase fleet size, expand to new geographies, and enhance technology. The company caters to both B2B (business-to-business) and B2C (business-to-consumer) clients, focusing on intra-city logistics for daily transportation needs. It aggregates the demand from various e-commerce companies, SMEs (small and medium enterprises), FMCG (fast-moving-consumer goods) players, and cloud kitchens. Simultaneously it aggregates supply directly from OEMs (original equipment manufacturers) and DCOs (driver-cum-operators).