According to company CEO and Co-founder Akash Gupta, the startup electric mobility services provider Zypp Electric plans to deploy 2 lakh vehicles in its fleet over the next three years and will require up to USD 300 million to support its expansion.
The company, which intends to expand into other cities such as Mumbai, Pune, and Hyderabad, is aiming for a revenue of Rs 500 crore this year, up from Rs 125 crore last year.
Zypp presently supports ecommerce and food/grocery delivery providers like as Swiggy, Zomato, Amazon, Myntra, Delhivery, and PharmEasy, among others, across Delhi-NCR and Bengaluru.
The company stated in February this year that it had raised USD 25 million in a series B fundraising round led by Taiwanese battery-swapping service provider Gogoro.
Moreover, the company stated that it made Rs 125 crore in FY23 and that it expects to make Rs 500 crore this year.