Zypp Electric starts Series C with $15mn, led by ENEOS

The Series C1 funding includes $15 million in equity as part of its on-going $50 million round, which is split into $40 million equity and $10 million debt. The funding also saw participation from existing investors including 9unicorns, IAN fund, venture catalysts, WFC & others.

The Series C funds will be utilised to expand Zypp’s fleet from 21,000 to 200k electric scooters and extend its services to 15 cities across India by 2026. Zypp Electric registered a revenue of Rs 325 crore in FY 2023-24 and launched operations in Mumbai and Hyderabad recently.

Securing $15 million in Series C1 funding is a pivotal moment & strong validation amid the current funding environment for Zypp Electric. These funds will be utilised to drive the company towards the full path of growth along with EBITDA profitability: Akash Gupta, Zypp Electric.

(From left): Tushar Mehta, Co-Founder and COO, Akash Gupta, Co-Founder & CEO and Rashi Agarwal, Co-Founder and CBO, Zypp Electric...driving tech-enabled EV-as-a-service platform together...

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