B2B delivery and shared mobility startup, Zypp Electric, has raised $7 million in its Series A round led by co-led by 9Unicorns and Anthill Ventures. Nanavati Family Office, We Founder Circle, Silicon Valley based Riso Capital Fund, Dholakia Ventures along with existing investors Venture Catalysts and IAN Fund have also participated in the round.
With this round, Zypp’s total fundraise stands at $12.5 million till date.
According to the Gurugram-based startup, the fresh funds will be used to ramp up its business over the upcoming 12 months in building an asset light EV business with simple charging solutions, to expand its presence from 10 cities to 25 cities.
Founded by Akash Gupta and Rashi Agarwal, Zypp provides logistics services to its clients. It is working to convert all deliveries for e-commerce, grocery, medicine and food vertical to go electric with an e-scooter sharing app.
The startup claims to work with about 200 B2B grocery and other hyperlocal delivery companies in the country like BigBasket, Amazon, Rapido, Flipkart, Spencers, Grofers, Citymall and Dealshare among others. It has over 2000 EVs across cities such as Delhi NCR, Bengaluru, Hyderabad, Mumbai and Pune.