Zypp Electric has raised around $7 million in a Series A round co-led by 9Unicorns and Anthill Ventures.
The round also witnessed participation from marquee family offices & 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 in the kitty, Zypp has now raised $ 12.5 million so far.
Zypp Electric, co-founded by Akash Gupta and Rashi Agarwal in 2017, provides electric scooters on rent to its clients. Its vision is to uberise and electrify same day and hyperlocal delivery space.
Zypp works with about 200 plus B2B grocery and other hyperlocal delivery companies in the country like Bigbasket, Amazon, Rapido, Flipkart, Spencers, Grofers, Citymall, Dealshare and many more customers. It has over 2,000 EVs across Delhi NCR, Bangalore, Hyderabad, Mumbai and Pune.
The company plans to expand to 10k vehicles across 25 cities over the next 12 months.
It has tied up with OEMs such as Hero Electric, Etrio and Piaggio to procure the vehicles.