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IAN Fund invests Rs 15 crore in e-scooter startup Zypp

"We are also looking to expand our geographical footprint across NCR along with 5 other Indian cities, and then to South East Asia and Europe. The plan is to have 20,000 scooters on the road by end of 2020,” said Rashi Agarwal, cofounder, Zypp,in ...

ET Online|
Nov 14, 2019, 03.01 PM IST
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The government is committed to investing $1.4 trillion in developing EV infrastructure in the next five years.
NEW DELHI: IAN Fund has invested in e-scooter startup Zypp. Incorporated in August 2017, the company has been strengthening last-mile mobility in India.

In a statement, Akash Gupta – co-founder and CEO, Zypp (earlier Mobycy) said, “Through Zypp, we aim to relieve the stress on professionals, their budget, roads, and the air – all at once. 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.”

“We will leverage the capital to scale by strengthening the fleet with 5000 e-scooters within the next few months. We are also looking to expand our geographical footprint across NCR along with 5 other Indian cities, and then to South East Asia and Europe in the coming years. The plan is to have 20,000 scooters on the road by end of 2020,” said Rashi Agarwal, cofounder, Zypp,in a statement.

The Government is committed to investing $1.4 trillion in developing EV infrastructure in the next five years. Astride these developments, market research estimates the Indian electric mobility domain to be valued at $5.2 billion.

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