Published On:March 24 2020
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Zypp eyes Rs. 100 cr in next round; plans to expand the fleet size by 15,000 e-scooter.

Gurugram-based electric two-wheeler startup, Zypp is planning to raise Rs. 100 crore in its next round of funding to expand its fleet size to 15,000 e-scooters from current 1000 units.

“By the end of 2021, we want to expand our fleet size by 15000 e-scooters. We might raise the next round in April. But right now we are expanding our fleet to 3,000 with the current funds we have” said Akash Gupta, Founder, Zypp

The e-scooter start-up in November last year raised Rs. 15 crore in the Pre-Series A funding from the Indian Angel Network (IAN) to expand its fleet and operations.

Operating currently out of Gurugram, along with Delhi and Noida, Zypp targets expansion to Mumbai, Hyderabad and Bengaluru in the next phase.

The electric scooter start-up company has integrated the QR code from its app that shows details like battery life and runing time of the e-scooter on the application. The same app can also be used by linking aadhaar card and driving licenses.

The start-up allows even individuals to invest and offer rent to riders of the companies like Zomato, Swiggy, Amazon, Grofers and Big Basket from their asset.

On an average, the riders who usually spend Rs. 300-Rs. 500 on fuel, can rent the e-scooter for Rs 109 per day to Rs. 3,600 per month. On one charge the electric scooter can go up to 75 km and the rider can swap the battery at Rs 10 from the swapping station. To support seamless transport, Zypp has set-up 20 battery swapping stations in Gurugram. It has partnered with DMRC and local authorities for parking of e-scooters.

The last mile start-up competes with the likes of Bounce and Yulu.

ET





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