Gurugram-based Electric Vehicle (EV) as-a-service platform Zypp Electric has successfully raised Rs 55.4 crore ($6.5 million) from 16 investors as part of its ongoing Series C funding round. This latest investment will further fuel the company’s growth as it strives to revolutionise urban logistics through its eco-friendly EV solutions.
According to the company’s Registrar of Companies (ROC) filings, Zypp Electric issued 564 Series C2 compulsory convertible preference shares (CCPS) at a premium of Rs 9,82,995.38 each. This follows a special resolution passed by the company, with the fresh funds expected to value the company at around $335-350 million.
The funding round has garnered significant attention from investors, with notable participants including Kapil Kriplani, Narinder Bajaj, Neeraj Goel and Samir Goenka. The influx of capital further reflects the confidence investors have in Zypp Electric’s business model and its market potential.
The EV fleet initially launched its Series C round in May 2024, raising $15 million in a tranche led by Japanese energy giant ENEOS. The round also saw participation from existing investors like 9Unicorns, IAN Fund, Venture Catalysts, and WFC.
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