Zypp Electric is a startup that has transformed its business model from a B2C mobility service to a last-mile delivery service, as a response to the COVID-19 pandemic. This article explores the company’s strategy and how it found success by pivoting to a new market.
Zypp Electric, a last-mile mobility service provider, secured $25 million in Series B investment backed by Gogoro, a Taiwan-based battery swapping startup, last month. The $20 million equity round included new and current investors, while the $5 million loan investment came from global impact fund IIX and a significant national bank. Zypp wants to improve operations across its service chain, increase driver experience, strengthen its IoT- and AI-enabled EV fleet management platform, and grow its operations team by hiring across technical and top-level jobs. The firm began its journey in 2017 with a B2C mobility solution that rented/leased electric scooters.
Rashi Agarwal and Akash Gupta, the creators of Zypp, used to travel widely throughout the world on business trips and witnessed the broad acceptance of EVs there.
Initially, Zypp’s company centred on providing clients with last-mile transportation from metro stations to their offices. Zypp, on the other hand, is a company that maintains an EV fleet and manages drivers for ecommerce companies and merchants. It does not own the EVs, but it does manage an e-bike delivery fleet in collaboration with EV players like as Sun Mobility, Gogoro, Kinetic Green, and Hero Electric. The startup’s objective is to enable last-mile transportation carbon-free and cost-effective for small retailers and ecommerce giants. It does real-time driver verification in the course of onboarding and tracks car position in real time.
It also monitors battery performance and condition, which can be replaced at Zypp Electric Hubs located at critical touchpoints. In the cities of Delhi-NCR and Bengaluru, the firm has conducted 15 million EV deliveries for partners such as Flipkart, Myntra, Bigbasket, Zepto, Zomato, Dunzo, Swiggy, Blinkit, Rapido Bike Taxi, 1MG, Delhivery, Blue Dart, JioMart, and Pharmeasy. Zypp recently teamed with Taiwan-based Gogoro.
