Draft:Zypp Electric

• Comment: Some of the sources are not reliable such as blogs and most of the others are trade publications and/or based on what the company says so not useful. Also, this is written like marketing copy. S0091 (talk) 16:37, 26 April 2025 (UTC)

---

Zypp Electric (stylised as ZYPP Electric) is an Indian technology-enabled electric vehicle (EV) as-a-service platform focused on last-mile delivery solutions. Founded in 2017 by Akash Gupta, Rashi Agarwal, and Tushar Mehta, who later joined in 2021 as the Chief Operating Officer, and headquartered in Gurugram, India, the company aims to make last-mile delivery and mobility achieve zero emissions. They accomplish this by offering delivery executives and companies electric three-wheelers and scooters. To provide sustainable and economical logistics, Zypp Electric has partnered with a number of grocery, e-commerce, pharmaceutical, and food delivery businesses.

Mission and Vision

Zypp Electric operates by prioritising sustainability in the last-mile delivery sector in India with a core vision to reduce pollution and combat climate change. They have aspirations to extend its EV-as-a-service solutions globally. The company's mission is to accelerate the adoption of electric vehicles in last-mile delivery to achieve 100% sustainability by 2028. This involves making the transition to EVs efficient, affordable, intelligent, and reliable. The founders were motivated by growing environmental concerns and the lack of practical solutions for emission reduction in India's transportation sector. They wanted to position Zypp Electric as a major force in this change because they saw how electric mobility could help with these problems.

Services Offered

Zypp Electric primarily offers EV-as-a-service solutions, focusing on last-mile deliveries for various businesses. Their services include providing electric two-wheelers and three-wheeler cargo vehicles on rent, along with trained riders, EV charging infrastructure, and maintenance support. The company caters to a wide range of clients, including e-commerce platforms, grocery delivery services, food aggregators, and logistics companies, such as Swiggy, Zepto, Flipkart, Rapido, Blinkit, Zomato, Uber, Amazon, BigBasket, Porter, Delhivery, and Blue Dart. Zypp Electric also offers rental services directly to delivery executives, enabling them to earn income while using electric vehicles. Furthermore, they provide three-wheeler electric cargo vehicles to facilitate the delivery of larger orders with zero emissions.

Business Model

Zypp Electric operates on an asset-light, technology-enabled EV-as-a-service model. Instead of directly owning all the vehicles, the company has implemented the Zypp Entrepreneurship Program, which allows investors to purchase bikes and lease them to Zypp, thereby expanding the fleet without incurring high upfront costs. This model facilitates rapid scaling and allows Zypp Electric to focus on its core competencies, such as fleet management and technology development. The company generates revenue through subscription-based rental services offered to delivery professionals and by providing end-to-end EV fleet management solutions to corporate clients. Zypp Electric's technology platform integrates IoT and AI to manage deliveries, track the fleet, and monitor battery usage, ensuring operational efficiency.

Funding and Valuation

Zypp Electric has raised a total funding of $76.5 million across 11 rounds. Their first funding round was on November 17, 2017. The latest funding round was a Series C round on January 15, 2025, for $6.5 million. Notable investors include ENEOS Group, Gogoro, Anthill Ventures, Indian Angel Network, Venture Catalysts, and 100Unicorns. As of February 10, 2025, the company's valuation was ₹2,830Cr (approximately $322 million). The funds raised are utilized for expanding the EV fleet, enhancing the technology platform, and extending service coverage to more cities across India.

Operational Footprint

Zypp Electric has expanded its operations across major metropolitan areas in India. Initially focused on Delhi-NCR, the company has extended its presence to cities like Bengaluru, Mumbai, Hyderabad, Pune, Lucknow, and Jaipur. As of early 2025, Zypp Electric operates a fleet of over 22,000 electric scooters and more than 1,000 three-wheeler cargo vehicles. The company has ambitious plans to further scale its fleet to 100,000 electric two-wheelers by the end of FY25 and aims for 500,000 vehicles by FY27. Zypp Electric also has intentions to expand its geographical reach to 15 cities across India by 2026 and is exploring opportunities for international expansion into Southeast Asia and the Middle East, with Indonesia being a primary target for initial expansion.

Market Position and Competition

Zypp Electric is positioned as a leading EV-as-a-service platform in India, particularly in the last-mile delivery segment. According to Tracxn, the company ranks 1st among its 36 active competitors. Key competitors in the market include Yulu, 3eco, MoEving, EVeez, Evify, BluWheelz, Fullfily, Hala Mobility, and Pickkup. Zypp Electric also faces competition from established players like Swiggy Genie, Rapido, Dunzo, Lalamove, and Shadowfax, which have expanded into the delivery space. Additionally, it competes with other EV companies such as Ola Electric, Ampere Vehicles, Hero Electric, Zyngo, Crayon Motors, PURE EV, Kabira Mobility, and BattRE. Zypp Electric claims to have a significant market share in the quick-commerce delivery segment in Delhi-NCR. The company aims to capture a substantial portion of the overall electric two-wheeler fleet market in the coming years.

Achievements and Milestones

Zypp Electric has achieved several significant milestones since its inception. It is recognized as India's largest tech-enabled EV-as-a-service platform. The company has completed over 107 million deliveries and has saved over 52 million kilograms of CO2, equivalent to planting over 2.5 million trees. In FY24, Zypp Electric registered a 3X revenue growth and deployed 20,000 e-scooters. The company achieved operational profitability in FY24. Zypp Electric was conferred with the Volvo India Innovation Award 2021 under the SME category for its last-mile connectivity solutions. Financial Times recognized Zypp Electric as one of Asia's top-growing startups. The company's platform has facilitated the transition of over 53,000 delivery executives to electric vehicles. Zypp Electric launched the Green'o'Meter initiative with the goal of planting 1 million trees by 2030.

Environmental Impact

Sustainability is at the core of Zypp Electric's operations, with a strong emphasis on reducing carbon emissions in last-mile delivery. The company's mission is zero emission, aiming for a 100% EV-powered last-mile delivery service by 2028. Through its operations, Zypp Electric has achieved a significant reduction in emissions, saving over 52 million kilograms of CO2. This environmental impact is equivalent to planting over 2.5 million trees and growing them for 10 years. The company launched the Green'o'Meter initiative to further its commitment to sustainability, aiming to plant 1 million trees by 2030. Zypp Electric also helps businesses achieve their Environmental, Social, and Governance (ESG) compliance by offering zero-emission electric mobility solutions.

Community and Social Initiatives

Zypp Electric is involved in various community and social initiatives. The company launched the #SheroesOnEV initiative to empower women by creating opportunities in the traditionally male-dominated delivery sector. Zypp Electric aimed to onboard 3,000 women as delivery partners in 2022 and is targeting 2,000 female riders in the next 12 months (as of March 2024) with a long-term goal of achieving a 50% female workforce. The company offers a unique joining bonus and a customised assurance plan for women driver-partners, along with training to become technicians or mechanics. In 2025, Zypp Electric announced its first Employee Stock Ownership Plan (ESOP) buyback program, allocating around ₹1.5 Crore to reward long-serving employees. Zypp Electric also released a rap song titled “Hum Hai Bhaiya Delivery Boys” to honor the contributions of delivery partners across India.

Challenges and Recent Developments

Despite its growth and achievements, Zypp Electric has faced certain challenges. In March 2025, the company implemented cost-cutting measures, including layoffs of at least 150 employees (around 10% of its workforce). This adjustment reduced the workforce from approximately 1,300 to around 1,150-1,190 employees. Additionally, Zypp Electric introduced pay cuts tied to performance targets for team leads. These measures are aimed at controlling costs and achieving EBITDA profitability before a potential initial public offering (IPO) by the end of 2026. In FY24, the company's net loss increased by 125% to INR 91.1 Cr. In terms of leadership changes, Zypp Electric appointed Parag Raheja as Executive Vice President for Fleet & Maintenance in January 2025 and Manoj Kohli as a Senior Advisor in December 2024. The company had also strengthened its senior leadership team with four key appointments in April 2024.