Zypp Funding: Micro-mobility Startup Raise 15Cr. from IAN Fund

zypp funding

Micro-mobility Startup Zypp had raised 15Cr. from IAN Fund.

Zypp wish to leverage its fleet of IoT-powered electric scooters to make the commute convenient, affordable, and eco-friendly after this round of funding from IAN. The users of Zypp can easily access the services to fulfill their daily micro-mobility needs within a range of 5 km using the eponymous app, Zypp.

It has an innovative method of working. The mobile app unlocks two-wheelers by scanning the QR code, and allows users to park e-scooters at various geo-fenced locations. Certainly the users love Zypp for the ease of use and quality of service.

As part of its goal to become a USD 5 trillion economy by 2024, India plans to spend USD 1.4 trillion on its infrastructure in the next five years, as announced by Union Finance Minister Nirmala Sitharaman. This report was published in Economic Times on 19th of October 2019. A substantial part of this investment will be on electric mobility. Zypp will be directly benefited from this development.

As per Shishir Gupta, The founder of StartupLanes:

Zypp is a startup that will scale up fast with the development of the economy. The electric vehicles market is estimated to increase from 3.15 million units in 2019 to 12.03 million units by 2025. As Zypp will use the funds raised to scale by adding 5,000 e-scooters to its fleet, I expect it to become a crucial startup in this sector.

As per the LinkedIn page of Zypp, it is India’s leading smart shared mobility app. It is further mentioned that: Mobility Made Easy Revolutionizing the last mile commute for Indians by Green-tech.

Zypp makes the last mile commute more affordable, time-saving and promote zero-emission. We have introduced, bicycles, electric scooters, electric cycles to serve people with range of commute options.

Zypp had 21 employees listed at LinkedIn, at the time of writing this article. It is located at Gurugram, Haryana, India.