- ByStartupStory | January 15, 2025
Gurugram-based tech-enabled electric vehicle (EV) as-a-service platform Zypp Electric has raised ₹55.4 crore ($6.5 million) from 16 investors, as part of its ongoing Series C funding round.
According to the company’s Registrar of Companies (ROC) filings, Zypp Electric issued 564 Series C2 compulsory convertible preference shares (CCPS) at a premium of ₹9,82,995.38 each, following a special resolution passed by the company.
This latest funding is expected to value the company at approximately $335-350 million, marking another milestone in its growth trajectory. The development was first reported by Entrackr.
The funding round has seen participation from 16 individual investors, including Kapil Kriplani, Narinder Bajaj, Neeraj Goel, and Samir Goenka. The round reflects continued investor confidence in Zypp Electric’s business model and market potential.
In May 2024, Zypp Electric kickstarted its Series C funding round, raising $15 million in a tranche led by Japanese energy giant ENEOS. Existing investors such as 9Unicorns, IAN Fund, Venture Catalysts, WFC, and others also participated in this earlier phase.
Founded in 2017, Zypp Electric provides EV-as-a-service solutions to several major partners, including bigbasket.com, Zepto, Flipkart, Myntra, Zomato, Swiggy, Blinkit, Uber, Porter, Rapido, Tata 1mg, Delhivery, and Blue Dart.
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