Zypp through the city! Indian startup Zypp Electric makes it easy for companies to access EV fleets and for any driver to access an EV.

And they’re ready to take on Southeast Asia. They’ve just raised $15M as part of their Series C round!

• Founded in 2017, they operate 21,500 EV two-wheelers across four major Indian cities.
• They make 5M deliveries a month.

Investor check. Japan’s ENEOS led the round.

• They project the Series C to be a mix of equity and debt (around $40M in equity and $10M in debt).
• They raised a $25M Series B led by Gogoro last year.

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🔋 How it works

For drivers. Don’t risk your $$$ to finance your own ride! You can rent e-bikes with a daily, weekly, or monthly subscription.

• This contributes 28% of Zypp’s revenue.
• Just swap batteries at Zypp charging stations!

For companies. Delivery, e-commerce, food, grocery, and ride-sharing companies like Amazon, BigBasket, DHL, Uber, Swiggy, Zepto and Zomato work with them.

• They won’t be in Zypp uniforms—unless you want them to. Customize your fleet with your own branding.
• They also recently started offering three-wheeler EVs for larger deliveries in two cities. It’s now contributing 10% of total revenue.
• Access the Zypp app and software which lets you get data and analytics on fleet and delivery management!

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⚡️ What’s next?

They’re looking to use the $$$ to expand to Southeast Asia by early 2025 and are in talks for expansion to the Middle East.

• They plan to be in 15 markets by 2026, with one of them being in SEA.
• They’re starting in Indonesia first. Their potential markets are Indonesia, the Philippines, and Thailand because of the major two-wheeler presence and volume of deliveries.

They’re also operationally profitable and on track to be EBITDA-positive in six to eight months.