The Gurugram-based electric two-wheeler startup, Zypp, previously known as Mobycy, has raised INR 15 Cr in Pre-Series A from the Indian Angel Network (IAN) to scale up its fleet to include over 5K e-scooters. Besides the capital, IAN has also mentored the early-stage startup to take its business forward.
Padmaja Ruparel, the founding partner at IAN Fund, said, “Zypp’s mission of bolstering the electric connected shared mobility space focused on the last mile connectivity in India, falls in line with the overarching vision of IAN Fund.”
Zypp is also planning to scale up its operations across five Indian cities, including Delhi-NCR, which has recently changed its policies to approve bike-taxis. The company targets to expand its fleet to include around 20K e-scooters by the end of 2020. Moreover, Zypp roadmap to growth includes expanding to regions like South East Asia and Europe in the coming years.
Founded in 2017 by Akash Gupta, Shivraj Singh and Rashi Agarwal, the company offers connected micro e-scooters by enabling the internet of things (IoT) services. The e-scooters can go to any place within the range of 5 Kms. The users can unlock the scooter by scanning a QR code through its mobile app. The company will also allow users to park vehicles at various geo-fenced locations.
Zypp cofounder and CEO, Akash Gupta, in a press release, said, “Our mission is to offer the new-age working professionals with affordable, convenient, and eco-friendly connected and shared two-wheeler mobility solutions solving urban commute. This is a first-of-its-kind fully electric venture in India.”
Last year, the startup had also integrated a new feature that allows users to locate the nearest scooters and unlock them by scanning the QR code from the app with a charge of $0.14 (INR 10).
The services cost about $0.01 (INR 1) per minute during the travel. The app will also show the details like battery life and run time of the e-scooter on the app. To use the app, users have to link the app with their Aadhaar or driving licenses.