Zypp Electric raises $6.5M more in an ongoing Series C — up to $50M planned
The EV-as-a-service player targets $50M in its Series C as gig-economy delivery electrifies.
Gurugram-based Zypp Electric, the EV-as-a-service platform for gig delivery workers, raised ₹55.4 crore ($6.5 million) as part of an ongoing Series C that could reach $50 million.
The round
- Structure: 564 Series C2 CCPS at ₹9,83,005 each (filing)
- Imputed valuation: ~$335–350 million
- Previous tranche: $15 million led by ENEOS (May 2024)
- Backers: IAN Fund, 100 Unicorns, Anthill Ventures, ENEOS
Fleet at scale
- ~22,000 active vehicles
- Delhi NCR: 15,000 · Bengaluru: 4,000 · Mumbai: 1,200
Zypp rents electric scooters to gig workers and earns from delivery services — the asset-light-ish EV-as-a-service model that quick-commerce (Zepto, Blinkit) increasingly relies on for last-mile.
Signal
EV-as-a-service and gig-fleet leasing are among the fastest-growing EV funding segments — investors back predictable fleet revenue over hardware manufacturing risk.
Fleet economics are the new EV battleground — companies that lease, dispatch and maintain EVs for gig workers are raising faster than manufacturers.EV businesses — running this problem today?
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