Other Private Equity/Strategic Investments
EV scooters rental platform Zypp Electric to raise $50-M in pre-IPO round
Gurugram-based electric vehicles rental platform Zypp Electric plans to raise between $40-M and $50-M in a pre-IPO funding round, with the goal of nearly doubling its valuation. The company was last valued at approximately $331-M as of March 2025. It intends to close this transaction over the next two to three months.To date, the company has raised $76.5-M from investors including Goodyear Ventures, Venture Catalysts, Indian Angel Network Fund, We Founder Circle, 100Unicorns, and IVY Growth Associates.Founded in 2017 by Akash Gupta and Rashi Agarwal, Zypp provides electric scooters and loaders on rent to delivery executives and e-commerce companies for last-mile delivery. It plans to use the capital to support its ongoing operations and growth as it prepares for a public listing within the next one to two years.The company reported revenue of Rs.448.6-Cr in 2024-25, compared to Rs.111.5-Cr in 2022-23. It remains loss-making with net losses of Rs.107.5-Cr in the most recent fiscal year.
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 INR 438 Cr in Operating Income and about INR 108 Cr in Net Loss.
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