Zypp Electric, a Delhi NCR-based electric vehicle-as-a-service startup, is bullish on the growth potential of escooters and has chalked out a $30 Mn expansion plan.

The B2B delivery and shared mobility electric vehicle (EV) startup plans to go live in Bengaluru this month. Zypp Electric aims to scale further in Mumbai, Pune and Hyderabad in the coming months.

And for investors to invest $25 Million – $30 Million in its next funding round, the founders are roughly looking to dilute the equity by 17-18% at the Series B stage.

Zypp Electric | E-Scooter Delivery App

Founded by Akash Gupta and Rashi Agarwal in 2017, Zypp Electric is a B2B Delivery and shared mobility platform working with a mission to make all last-mile deliveries electric.

Making last-mile delivery more affordable, time-saving, and with zero-emission, Zypp Electric offers electric scooters and electric loaders to serve businesses working in grocery, food, medicine and essential goods.

Speaking about the development, Akash Gupta, Zypp Electric Co-founder & CEO, said,

“To get to the top 20 cities, we would need around $25 Mn-$30 Mn of capital. We have some money in the books already, but we have now tied up around 70-75% of this additional growth capital also for this round.”

The electric vehicle-as-a-service startup provides escooters for last-mile delivery to over 50 brands, including renowned ecommerce, and food and grocery players like Amazon, Flipkart, Myntra, Swiggy, Zomato, BigBasket, PharmEasy, Delhivery, and Spencers, among others.

Zypp Electric has 6,000 EVs on road, and the startup has helped its partners complete over 5 Mn deliveries in the financial year 2021-22 (FY22).

The startup, which already has a partnership with Hero Electric for the supply of escooters, is also in talks with a number of other OEMs (original equipment manufacturers). As per Akash, the startup is in talks with EV players, including Ampere, Okinawa, Jitendra, and Kinetic.

As part of its expansion plan, the startup aims to have a fleet of 1.5 lakh scooters spread across 18 Tier-1 cities by 2025.

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