Total amount raised
$93.4 Million
Latest funding date
1/1/2025
Location
Zypp Electric has successfully raised funds over 15 rounds, with the latest being a Series C round. The company is backed by 47 investors, including recent contributors Gagan Khanna and Ajay Kumar Agarwal.
Keep reading to explore the intricacies of Zypp Electric's fundraising journey and the investors supporting this innovative platform.
What Is Zypp Electric?
Zypp Electric is an electric vehicle (EV) delivery app that operates in the last-mile delivery space. The company is based in Gurgaon, Haryana, India, and employs between 1001 and 5000 people.
Operating in industries such as clean energy, logistics, and sustainability, Zypp Electric focuses on providing eco-friendly delivery solutions. The company has raised significant funding over multiple rounds and has invested in other companies like TSAW Drones.
How Much Funding Has Zypp Electric Raised?
- Series A
- Amount Raised: USD 7,000,000
- Date: September 2021
- Lead Investors: 100Unicorns, Anthill Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and scale the EV delivery platform.
- Debt Financing
- Amount Raised: USD 1,000,000
- Date: April 2022
- Lead Investors: Northern Arc
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational costs and enhance financial stability.
- Series B
- Amount Raised: USD 9,000,000
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market reach.
- Series Unknown
- Amount Raised: USD 25,000,000
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and infrastructure.
- Debt Financing
- Amount Raised: USD 5,000,000
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage cash flow and operational expenses.
- Series B
- Amount Raised: USD 20,000,000
- Date: February 2023
- Lead Investors: Gogoro
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand fleet size and market presence.
- Series C
- Amount Raised: INR 1,157,000,000 (approx. USD 15,000,000)
- Date: May 2024
- Lead Investors: ENEOS
- Valuation at Round: USD 335-350 million
- Motivation Behind the Round: To scale operations and enhance service offerings.
- Series C
- Amount Raised: INR 554,000,000 (approx. USD 6,500,000)
- Date: January 2025
- Lead Investors: Not publicly disclosed
- Valuation at Round: USD 335-350 million
- Motivation Behind the Round: To continue growth and expand market reach.
Total Amount Raised: USD 83,500,000. Current Valuation: USD 335-350 million.
Key Investors
- ENEOS
- Details: ENEOS is a major Japanese energy company involved in oil, gas, and renewable energy sectors. They led the $15 million Series C round for Zypp Electric in May 2024.
- Investment Focus Areas: Energy, Oil & Gas, Renewable Energy
- Notable Investments: Not publicly disclosed
- Gogoro
- Details: Gogoro is a Taiwanese company specializing in electric scooters and battery-swapping infrastructure. They were a key investor in Zypp Electric's $20 million Series B round in February 2023.
- Investment Focus Areas: Electric Vehicles, Battery Technology, Sustainable Transportation
- Notable Investments: Not publicly disclosed
- 9unicorns
- Details: 9unicorns is a startup accelerator and venture capital firm that invests in early-stage startups. They participated in Zypp Electric's Series C round.
- Investment Focus Areas: Technology, Healthcare, Fintech
- Notable Investments: Not publicly disclosed
- IAN Fund
- Details: Indian Angel Network Fund is a seed and early-stage investment firm. They were part of the Series C round for Zypp Electric.
- Investment Focus Areas: Technology, Consumer Products, Healthcare
- Notable Investments: Not publicly disclosed
- Venture Catalysts
- Details: Venture Catalysts is an integrated incubator and accelerator that supports early-stage startups. They also participated in Zypp Electric's Series C round.
- Investment Focus Areas: Technology, Consumer Products, Fintech
- Notable Investments: Not publicly disclosed
What's Next for Zypp Electric?
Zypp Electric is poised for significant growth, driven by its recent funding rounds and strategic partnerships with major companies like BigBasket, Flipkart, and Zomato. The ongoing Series C funding round, which has already raised Rs 55.4 crore ($6.5 million), highlights the substantial opportunities available for the company. With a valuation expected to reach $335-350 million, Zypp Electric is well-positioned to expand its services and market presence.
Future fundraising opportunities appear promising, given the strong interest from both domestic and international investors. The involvement of major players like ENEOS and existing investors such as 9unicorns and IAN Fund suggests a robust potential for additional investment rounds. However, Zypp Electric may face challenges such as competition from other EV service providers and regulatory hurdles related to EV infrastructure. Despite these obstacles, the company's strategic partnerships and growing market demand for eco-friendly delivery solutions provide a solid foundation for continued success.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Zypp Electric and gather other critical business insights. Sign up for free to start leveraging these powerful tools today.
