Total amount raised
$93.4 Millions
Latest funding date
Location
Title
Zypp Electric has successfully raised $15 million in its Series C funding round, attracting significant interest from investors like ENEOS. The company is dedicated to promoting zero-emission last-mile deliveries through its electric scooter rental service.
Keep reading to explore the intricacies of Zypp Electric's fundraising journey and the investors backing this innovative platform.
What Is Zypp Electric?
Zypp Electric, founded in 2017, is headquartered in Gurgaon, Haryana, India. The company was established by Akash Gupta, Rashi Agarwal, and Tushar Mehta.
Specializing in electric vehicle solutions, Zypp Electric focuses on converting last-mile deliveries for e-commerce, grocery, medicine, and food sectors to electric vehicles. Their mission is to make deliveries more efficient and environmentally friendly.
With a workforce of 1001-5000 employees, Zypp Electric is dedicated to promoting zero-emission deliveries through its tech-enabled EV-as-a-Service platform.
How Much Funding Has Zypp Electric Raised?
- Seed Round
- Amount Raised: $500K
- Date: November 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart operations and develop the initial product.
- Seed Round
- Amount Raised: $2M
- Date: November 2019
- Lead Investors: IAN Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the product.
- Seed Round
- Amount Raised: $600K
- Date: May 2021
- Lead Investors: 100Unicorns
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and expand market reach.
- Seed Round
- Amount Raised: $500K
- Date: July 2021
- Lead Investors: Venture Catalysts
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and increase user acquisition.
- Series A
- Amount Raised: $7M
- Date: September 2021
- Lead Investors: 100Unicorns, Anthill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Debt Financing
- Amount Raised: $1M
- Date: April 2022
- Lead Investors: Northern Arc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs.
- Series B
- Amount Raised: $9M
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand fleet size and improve technology.
- Series B
- Amount Raised: $20M
- Date: February 2023
- Lead Investors: Gogoro
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance infrastructure and scale operations.
- Series C
- Amount Raised: $15M
- Date: May 2024
- Lead Investors: ENEOS
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market presence and develop new services.
- Series C
- Amount Raised: $6.5M
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: $335-350M
- Motivation Behind the Round: To further scale operations and enhance technology.
Total Amount Raised: $62.1M. Current Valuation: $335-350M.
Key Investors
- ENEOS
- Details: ENEOS is a major Japanese energy company involved in oil, gas, and renewable energy sectors. They led the initial $15 million investment in Zypp Electric's Series C round.
- Investment Focus Areas: Energy, Technology, Renewable Resources
- Notable Investments: Not publicly disclosed
- 9unicorns
- Details: 9unicorns is an early-stage venture capital fund that invests in innovative startups. They have been an existing investor in Zypp Electric.
- Investment Focus Areas: Technology, Healthcare, Fintech
- Notable Investments: Not publicly disclosed
- IAN Fund
- Details: IAN Fund is an early-stage investment fund that supports high-growth startups. They participated in multiple funding rounds for Zypp Electric.
- Investment Focus Areas: Technology, Consumer Products, Healthcare
- Notable Investments: Not publicly disclosed
- Venture Catalysts
- Details: Venture Catalysts is an early-stage investment platform that provides funding and mentorship to startups. They have been involved in Zypp Electric's funding rounds.
- Investment Focus Areas: Technology, Consumer Goods, Fintech
- Notable Investments: Not publicly disclosed
- Gogoro
- Details: Gogoro is a Taiwanese company specializing in electric scooters and battery-swapping infrastructure. They led a $20 million investment in Zypp Electric's Series B round.
- Investment Focus Areas: Electric Vehicles, Renewable Energy, Technology
- Notable Investments: Not publicly disclosed
What's Next for Zypp Electric?
Zypp Electric is poised to capitalize on the burgeoning demand for electric vehicle services, bolstered by its recent $6.5 million funding round. With strong partnerships with industry giants like BigBasket, Flipkart, and Zomato, the company is well-positioned to expand its market presence and enhance its service offerings.
As the EV market continues to grow, Zypp Electric is likely to attract further investment, potentially leading to additional fundraising rounds. However, the company must navigate challenges such as increasing competition and maintaining service quality while scaling operations. These hurdles will be crucial in determining its long-term success and market leadership.
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