Electric vehicles will soon rule the roads of India. With the rapid implementation of environmentally friendly and sustainable initiatives, we are pivoting to adopt global emerging trends and replace conventional vehicles with modern smart and sustainable vehicles such as the Miracle. The current pollution and traffic situation in India’s landscape is forcing a rethinking of the country’s landscape.
Zypp Electric began as a commuter electric rental mobility company. However, over time, the founders discovered that half of all commutes in India are less than 5 kilometres long. Last-mile delivery was rapidly growing at 30% year on year in 2019, according to Akash and Rashi, particularly in the eCommerce and e-grocery segments. The pair then decided to enter the last-mile delivery market and assist it in transitioning to an EV-led delivery ecosystem.
Since 2017, we have risen as one of India’s leading Urban Mobility service providers, as a top solution for affordable, scalable, and shareable commuting, as an answer to this problem, and as a growth driver for India’s economy. We are expanding our services and aim to create sustainable cities by completely transforming people’s commutes through the integrated use of IoT, machine learning, and artificial intelligence.
With its e-scooter sharing app, Zypp Electric is working to convert all deliveries for the e-commerce, grocery, medicine, and food verticals to electric.
How Zypp is helpful in last-mile delivery?
Zypp Electric, a hyperlocal and EV-based last-mile delivery startup, announced on Tuesday that it had raised approximately $7 million in a Series A round led by 9Unicorns and Anthill Ventures.
Family offices and early-stage funds also participated in the round, including Nanavati Family Office, We Founder Circle, Silicon Valley-based Riso Capital Fund, Dholakia Ventures, and existing investors Venture Catalysts and IAN Fund. Angel investors in the latest round included Tarun Saraf of Warehouse Now, Rahul Khera of AWL logistics, and Arjun Seth and Mark Joseph, both EV enthusiasts. Zypp has now raised a total of $12.5 million with the new funding.
Zypp Electric, founded in 2017 by Akash Gupta and Rashi Agarwal, rents out electric scooters to customers. Its goal is to Uberize and electrifies the same-day and hyperlocal delivery markets. Zypp aims to transform last-mile delivery with the right EVs, battery swapping infrastructure, IoT, and AI/ML platform, while making it sustainable and affordable for businesses of all sizes, from kiranas to large e-retail customers.
Zypp collaborates with approximately 200 B2B grocery and other hyperlocal delivery companies in India, including Bigbasket, Amazon, Rapido, Flipkart, Spencers, Grofers, Citymall, and Deal share. The company operates over 2,000 electric vehicles in cities including Delhi NCR, Bengaluru, Hyderabad, Mumbai, and Pune.
Zypp Electric has aggressive growth plans, and the startup intends to expand its EV fleets from 1,000 to 10,000 vehicles over the next 18 months, with at least 15% of the vehicles led by women and covering ten major cities in India.
Zypp’s Unique Value Proposition
The majority of electric vehicles are designed for personal use. Aside from that, zypp intends to concentrate on shared mobility, sustainable commuting, and first and last-mile connectivity. White-collar workers use Zypp vehicles to get to work in the morning, while college students use them to get to class. Gig workers typically use the same vehicle for food delivery in the afternoon and late at night. The services of Zypp are now available to shared mobility players such as logistic companies, delivery partners, and food delivery aggregators, to name a few. This segment is already planning to phase out the use of ICE (internal combustion engine) vehicles in favor of electric vehicles.
While the goal of this switch is to make businesses more profitable, it also has environmental benefits as well as benefits such as affordability and accessibility. Food aggregators such as Zomato and Swiggy are eager to transition at least 10% of their delivery fleets to electric vehicles. While the roads are clogged with two-wheelers used by food aggregators, we decided to extend our services to them for their convenience and to reduce pollution.
The helpful solution in a delivery sector
Another significant benefit of using our vehicles is for delivery and aggregator workers who do not have access to personal bikes or vehicles and require cost-effective alternatives. Zypp is an excellent low-cost solution for such agents, as they can rent our services at a low cost, commute safely and freely by not being stuck in traffic for long periods of time, and they do not need to have a driver’s license.
Through a joint partnership mechanism, our efficient operating strategy in the EV sector aims to make the company a dominant player among shared mobility companies as well as in other countries. We hope to have a positive impact on India’s micro-mobility business by leveraging strong innovations.
