Gurugram-based Zyngo EV Mobility, a tech-enabled third-party logistics service provider, has raised $5 million in Pre-Series A funding led by Delta Corp with participation from existing investors LC Nueva Investment Partners LLP.
Founded by Prateek Rao in January 2020, this start-up offers last-mile delivery solutions through a fleet of electric vehicles. The company caters to B2B and B2C consumers, focusing on intra-city logistics. It runs on a unique ‘asset-light model’ where they act as an intermediary between the supply and demand in the market while taking care of the operations and management of the EV fleets end to end.
Also Read: How Zyngo EV Mobility Enabled Largest EV Fleet In The Logistics Sector
Prateek Rao, CEO and Founder, Zyngo, said, 'With this latest investment, we are excited to accelerate our growth and expand our reach, while staying true to our commitment to provide eco-friendly and affordable logistics solutions.”
Mudit Paliwal, CEO & Founder, Delta Corp, said, “We are very excited to support Zyngo and extend our footprint in last-mile logistics in the EV space. What better place than India with its large population and growth potential. We have identified some of the key infrastructural barriers to mass adoption and are now actively addressing each obstacle through targeted investments. These range from empowering drivers, and financing vehicles to creating EV infrastructure hubs, our goal is to create a comprehensive EV ecosystem that will accelerate the adoption of EVs throughout India particularly in logistics.”