Zypp Electric, an electric car servicing firm with offices in India, raised $25 million in series B funding from Gogoro, a battery-swapping company listed on the Nasdaq.
Along with other new and old investors, the round also included participation from Goodyear Ventures, 9Unicorns, WFC, and Venture Catalysts. The money raised was a combination of equity and loans.
Akash Gupta, Rashi Agarwal, and Tushar Mehta founded Zypp Electric in 2017, which leases automobiles from original equipment manufacturers including Hero Electric and Kinetic. The startup then distributes these e-scooters to its delivery, e-commerce, and ride-sharing partners, including BigBasket, Zepto, Flipkart, Myntra, Zomato, and Swiggy. According to Zypp Electric, the company’s EVs have been used in 15 million deliveries by its customers.
Additionally, the business closely collaborates with gig workers to provide them with affordable EV rentals.
By December 2025, Zypp Electric plans to increase its fleet size from 10,000 to 200,000 and reach 30 Indian cities. The business will also spend money on new recruits and developing IoT and AI-enabled EV fleet management technology.