Zypp Electric

Zypp Electric is India's leading electric vehicle-as-a-service (EVaaS) platform, revolutionizing last-mile delivery through sustainable transportation solutions. Founded in 2017 by Akash Gupta, Rashi Agarwal, and Tushar Mehta, the company has transformed from a dockless bike rental service into a powerhouse in the electric mobility sector, operating the largest EV fleet for last-mile logistics in India with over 22,000 electric vehicles across major metropolitan areas.

The company's journey from Shark Tank India rejection to a ₹2,840 crore valuation exemplifies the spirit of innovation shaping India's sustainable transportation future. Despite being declined by the Sharks in their pitch seeking ₹2.2 crores for 1% equity, Zypp Electric has proven its business model's viability through consistent execution and impressive growth metrics. In FY24, the company generated revenue of ₹306 crore, representing a 168% year-over-year increase from ₹109.1 crore in the previous fiscal year, and further accelerated to ₹448 crore in FY25 with 48.2% YoY growth.

Zypp Electric's innovative asset-light business model allows public investment in vehicles, enabling rapid fleet scaling from just 50 scooters at inception to over 22,000 vehicles today without the burden of high upfront capital costs. The company partners with India's leading quick commerce and delivery platforms including Zepto, Blinkit, BigBasket Now, Swiggy, Zomato, Flipkart, and Myntra, having completed over 20.5 million emission-free deliveries. Through the Zypp Pilot app, the startup seamlessly connects delivery riders with partner platforms, creating an efficient ecosystem for sustainable urban logistics.

With a mission to achieve zero emissions by 2028, Zypp Electric has secured $76.5 million in funding from prominent investors including ENEOS Group, Gogoro, Goodyear Ventures, and Anthill Ventures. The company operates primarily in Delhi-NCR (15,000 vehicles), Bangalore (4,000 vehicles), and Mumbai (1,200 vehicles), with ambitious plans to expand its fleet to 500,000 EVs by FY30 and establish presence in 30 cities across India by end of 2025. Beyond India, Zypp Electric is eyeing international expansion into Southeast Asia, Africa, EMEA, and the Middle East, positioning itself as a global leader in sustainable last-mile delivery solutions.