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Zypp Electric

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Overview

Zypp Electric is an Indian electric mobility startup founded in 2017 by Akash Gupta and Rashi Agarwal. The company's mission is to make India carbon-free through the adoption of electric vehicles (EVs) in last-mile delivery. Key Features and Services:

  • EV-as-a-Service Platform: Zypp Electric provides a fleet of electric scooters and bicycles on a subscription basis to businesses, reducing carbon footprint and transportation costs.
  • Last-Mile Delivery Solutions: The company specializes in eco-friendly last-mile delivery services for various sectors using IoT and AI-enabled scooters.
  • Battery Swapping Infrastructure: Zypp Electric has set up battery swapping stations at key touchpoints for efficient battery replacement. Business Model:
  • B2B and B2C Plans: The company offers business solutions including drivers, EVs, charging infrastructure, and maintenance support. For B2C, they provide electric bike subscriptions for deliverers.
  • Fleet Management: Zypp Electric is known for its robust fleet management, addressing adoption challenges over the past five years. Funding and Valuation:
  • Total Funding: Over ₹409.7 Cr (approximately $50 million USD) raised, with a recent Series B round of $25 million in late 2022.
  • Valuation: As of May 2024, the company's valuation stands at $100 million. Operations and Impact:
  • Headquarters: Gurugram, Haryana, India
  • Employee Base: Approximately 319 employees
  • Milestones: 20.5 million emission-free deliveries completed, supporting over 10,000 low-income drivers and gig workers. Initiatives and Partnerships:
  • Inclusivity Programs: Hiring and training women as delivery partners
  • Google for Startups Accelerator participation in 2021
  • Strategic advisor: Manoj Kohli, former head of SoftBank India Commitment to Sustainability:
  • Focus on decarbonizing last-mile delivery and mobility
  • Alignment with sustainable development goals and climate tech Zypp Electric's innovative approach to electric mobility positions it as a key player in India's transition to sustainable transportation solutions.

Leadership Team

Zypp Electric boasts a strong leadership team with diverse expertise, driving the company's growth and innovation in the electric vehicle sector: Founders and Key Executives:

  • Akash Gupta: Co-Founder and CEO, with experience from MobiKwik, Snapdeal, Airtel Payments Bank, and others
  • Rashi Agarwal: Co-Founder and Chief Business Officer
  • Tushar Mehta: Co-Founder and Chief Operating Officer Recent Appointments:
  • Ricky Singh: SVP of E2W Operations, focusing on two-wheeler segment growth
  • Rahul Yadav: VP of Technology, leading product and technology initiatives
  • Sudhir Sharma: SVP Finance, handling finance, fundraising, and strategic planning
  • Sudipto Shome: VP of E3W Operations, specializing in three-wheeler and four-wheeler logistics Senior Advisor:
  • Manoj Kohli: Former SoftBank India head and Bharti Airtel veteran, guiding IPO plans and bringing 45 years of industry experience Other Key Executives:
  • Parag Raheja: EVP of Fleet & Maintenance This diverse and experienced leadership team is crucial in driving Zypp Electric's mission to revolutionize last-mile logistics, achieve sustainable growth, and prepare for a future initial public offering (IPO).

History

Zypp Electric, founded in 2017 by Akash Gupta and Rashi Agarwal, has rapidly evolved to become a key player in India's electric mobility sector. The company's journey is marked by significant milestones and adaptations: Founding and Mission:

  • Established in 2017 with a mission to achieve zero emissions in last-mile deliveries by 2028
  • Core values: sustainability, efficiency, affordability, intelligence, and reliability Early Challenges and Pivot:
  • Initially faced infrastructure and user adoption challenges
  • Pivoted towards last-mile deliveries two years after founding, partnering with major clients like Amazon and Big Basket Growth and Expansion:
  • Fleet growth from 2,000 vehicles in 2021 to over 21,000 by FY 2023-2024
  • Expanded operations to multiple cities including Delhi, Gurgaon, Pune, Bengaluru, and Hyderabad Financial and Revenue Growth:
  • Total funding of ₹409.7 crore from various investors
  • Revenue surge from ₹125 crore in FY 2022-2023 to ₹306 crore in FY 2023-2024 Achievements and Milestones:
  • Reduced carbon emissions by over 29 million kilograms
  • 21x growth in 3-wheeler deliveries
  • Recognized as Asia's top growing startup by the Financial Times Business Model and Services:
  • EV-as-a-Service platform offering B2B and B2C solutions
  • Utilization of IoT and AI-enabled scooters with battery swapping infrastructure Social Impact:
  • Initiative to hire and train 3,000 women as delivery partners Zypp Electric's journey demonstrates its commitment to sustainable last-mile delivery solutions and its significant impact on India's electric mobility landscape.

Products & Solutions

Zypp Electric, an India-based tech-enabled electric vehicle (EV) as-a-service platform, offers a comprehensive range of products and solutions focused on last-mile delivery and sustainable transportation. Their offerings can be categorized into the following key areas:

Electric Vehicles

Zypp Electric provides a fleet of electric scooters and cargo vehicles designed for zero-emission deliveries. These vehicles are equipped with advanced technologies such as IoT and AI, enabling automated and efficient operations.

Fleet Management Solutions

  • Smart Charging Solution: IoT-enabled chargers ensure timely and efficient charging, optimizing scooter use and reducing downtime.
  • Theft Alarm and Motor Lock: Built-in security features enhance fleet protection.
  • Geo Alerts: Real-time location tracking for efficient route optimization.
  • Keyless Bluetooth Connectivity: Allows riders to unlock and mobilize scooters using smartphones.
  • Battery Intelligence: Provides real-time data on battery health and usage patterns.

Delivery Services

  • EV+Rider Service: Offers electric vehicles with riders for last-mile deliveries.
  • Partnerships: Collaborates with prominent companies like BigBasket, Zepto, Flipkart, Myntra, Zomato, and Swiggy for efficient last-mile delivery solutions.

Additional Features

  • Ride Behavior Analysis: Tracks driving habits for improved safety and efficiency.
  • Stand Sensor: Enhances rider safety by preventing mobilization when the stand is down.
  • Custom Branding: Allows businesses to customize scooters with company colors and logos.

Support and Education

Zypp Electric provides comprehensive user education through their app, videos, tutorials, and in-person training on EV usage, charging, battery swapping, and maintenance.

Business Models

  • B2B Solution: Provides businesses with drivers, electric delivery vehicles, EV charging infrastructure, and maintenance support.
  • B2C Plan: Offers electric bike subscriptions for individual deliverers.

Expansion Plans

With recent funding, Zypp Electric aims to expand its fleet from 21,000 to 200,000 electric scooters and extend its service coverage to 15 cities across India by 2026.

Core Technology

Zypp Electric leverages advanced technology to power its last-mile delivery and mobility services. The key components of their core technology include:

IoT and AI-Enabled Fleet Management

  • Real-time tracking of vehicle locations, performance, and battery conditions
  • Keyless operation through app integration with back-end services

Battery Management and Swapping

  • Robust battery management system for optimizing battery health and longevity
  • Partnership with Gogoro for advanced battery-swapping technology
  • Swapping stations at key locations for minimized vehicle downtime

Real-Time Data Analysis and Insights

  • Utilization of data analytics and AI for informed decision-making
  • Optimization of fleet management, vehicle allocation, and predictive maintenance

Security Features

  • Implementation of motor locks for enhanced fleet security and visibility

Full-Stack SaaS Platform

  • Provides insights on earnings, order allocation, and real-time fleet tracking
  • Features token-based order allocation and user-friendly driver app
  • Helps reduce driver turnover and improve operational efficiency

Ecosystem Integration

  • Seamless integration with logistics companies (e.g., Blue Dart, Ecom Express, DTDC)
  • Collaboration with delivery platforms (e.g., Zomato, Zepto, Swiggy) By leveraging these technologies, Zypp Electric aims to make last-mile delivery more efficient, cost-effective, and environmentally friendly, while providing a comprehensive solution for businesses and individual deliverers alike.

Industry Peers

Zypp Electric operates in a competitive landscape that includes several industry peers across various segments. Key competitors and industry peers include:

EV Delivery and Last-Mile Delivery

  1. Swiggy Genie: A delivery service by Swiggy, expanding into grocery and essential item deliveries.
  2. Rapido: A bike taxi service venturing into delivery with Rapido Box.
  3. Dunzo: A player in the last-mile delivery segment.
  4. NimbusPost: A logistics company competing in the broader delivery and logistics space.

Electric Vehicle and Mobility

  1. Ola Electric Mobility: Develops and manufactures electric scooters, focusing on clean and sustainable transportation.
  2. Kabira Mobility: Offers high-speed and long-range electric motorcycles for urban transportation and delivery services.
  3. EVeez: Provides electric bikes on a subscription basis, targeting e-commerce, transportation, and last-mile delivery sectors.
  4. VIOMA MOTORS: Specializes in smart electric scooters with advanced features for eco-conscious consumers.

Shared Mobility and Sustainable Transportation

  1. River: Focuses on electric mobility, particularly electric scooters designed for urban transportation.
  2. Cowboy: A Belgium-based company producing connected electric bicycles for urban environments. These companies compete with Zypp Electric in various aspects, including:
  • Electric vehicle technology
  • Last-mile delivery services
  • Sustainable transportation solutions
  • Urban mobility options
  • Fleet management and logistics As the EV and last-mile delivery markets continue to grow, competition is likely to intensify, driving innovation and improvements in service offerings across the industry.

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