Zypp Electric raises $7M in Series A led by 9Unicorns and Anthill Ventures

• ByAyushi Ray     |    September 29, 2021

Zypp Electric raises $7M in Series A led by 9Unicorns and Anthill Ventures. The round also saw participation from marquee family offices and early-stage funds — Nanavati Family Office, We Founder Circle, Silicon Valley-based Riso Capital Fund, Dholakia Ventures, along with existing investors Venture Catalysts and IAN Fund. Few angel investors like Tarun Saraf of Warehouse Now, Rahul Khera of AWL logistics; Arjun Seth, Mark Joseph, both EV enthusiasts, also invested in the latest round. With the fresh funding, Zypp has now raised $12.5 million in total so far. Akash Gupta, Co-founder and CEO, Zypp Electric, said: “Zypp will be using the fresh funds to rapidly scale up the business over the next 12 months in building an asset light EV business with simple charging solutions, having a fintech model of EV on boarding and focusing on technology to utilise the fleet capacity so as to help generate better savings and earnings for delivery executives.”

Co-founded by Akash Gupta and Rashi Agarwal in 2017, Zypp Electric provides electric scooters on rent to its clients. The startup aims to disrupt and transform the future of last-mile delivery with right EVs, battery swapping infrastructure, IoT, and AI/ML platform, while making it sustainable and affordable for businesses of all types including ecommerce, e-grocery, and kiranas to large e-retail customers.“The electric logistics vision is a $123 billion market in India and we can see multiple unicorns in this space. We at Zypp wish to be the first and the largest when it comes to electrifying logistics. With the largest customers in our belt, with the best team on board and with the largest EV logistics fleet in the country, we aim to make every delivery pollution free for our customers and also creating more savings for the delivery executives whom we call as Zypp pilots,” said Akash.

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