Zypp Electric is gearing up for a public market debut and is looking to raise up to $200 Mn (about ₹1,890 Cr) via an initial public offering (IPO) within the next 18-24 months
The startup has roped in Axis Capital, SBI Capital Markets and DAM Capital to manage the proposed offering
Prior to initiating the public listing process, Zypp is looking to raise a funding round in the range of $40-50 Mn, cofounder and CEO Akash Gupta told Inc42
EV logistics startup Zypp Electric
is gearing up for a public market debut and is looking to raise up to $200 Mn (about ₹1,890 Cr) via an initial public offering (IPO) within the next 18-24 months. The startup has roped in Axis Capital, SBI Capital Markets and DAM Capital to manage the proposed offering.
Prior to initiating the public listing process, Zypp is looking to raise a funding round in the range of $40-50 Mn, cofounder and CEO Akash Gupta told Inc42. Without naming the investors, Gupta added that investors partaking in the funding round would be private equity firms and impact-focused funds.
Ahead of its listing, Gupta said that Zypp is focusing on strengthening its governance, compliance and financial reporting processes so that it can move ahead when market conditions are favourable.
“We are working as a listed startup. In terms of compliance, governance and audits, we are ensuring everything is in place so that whenever the right timing comes, we can hit that button,” he said.
The IPO plans come at a time when Zypp says its business has entered a new growth phase.
Gupta said Zypp’s fleet size has doubled over the last six to seven months, while its net revenue has doubled over the past 12 months. He attributed the growth to the rapid expansion of quick commerce and growing demand for electric mobility among gig workers.
According to Gupta, the startup turned EBITDA profitable in FY25 and has remained EBITDA profitable throughout FY26. He didn’t share Zypp’s bottom line and top line numbers.
Founded in 2017 by Gupta and Tushar Mehta, Zypp Electric provides EV-based mobility solutions for delivery workers across ecommerce, food delivery, quick commerce and bike taxi platforms.
The startup positions itself as a mobility infrastructure provider for the gig economy. Gupta said a delivery worker using a petrol vehicle typically spends around one-third of monthly earnings on fuel, maintenance and vehicle financing costs. Zypp’s EV platform reduces those costs significantly.
Beyond its core EV leasing business, Zypp has been building additional revenue streams. It also operates EV battery swapping, maintenance and servicing infrastructure.
Zypp’s advertising business, which monetises inventory on scooters, helmets and three-wheelers, currently generates around ₹8-10 Lakh in monthly revenue, according to Gupta.
The startup has also developed a fleet management software platform, Fleekies.ai, which currently has eight to nine paying customers. Gupta said the software business generated close to ₹40 Lakh in revenue in FY26, lower than its earlier target of ₹60 Lakh.
In another expansion move, Zypp recently launched a franchise model aimed at entering tier-II and tier-III markets. Per Gupta, the startup is charging a franchise fee of around ₹10 Lakh and internally aims to appoint 50 franchise partners over the next six months.
At present, Delhi NCR and Bengaluru are Zypp’s largest markets, followed by Hyderabad and Mumbai. The startup also operates in Pune and Jaipur, with the latter being its only tier II city presence so far.
The startup’s expansion plans come amid growing investor interest in EV infrastructure and logistics businesses, especially as quick commerce companies continue to scale operations across India.
Source: Inc42 - Startups
