Funding · Mobility & Logistics

Zypp Electric gears for $200 Mn IPO, plans listing in FY28

By Startup Enthusiast · 22 June 2026

What they do

Zypp Electric provides EV-based mobility solutions for delivery workers across e-commerce, food delivery, quick commerce, and bike taxi platforms

The startup is planning an IPO to raise up to $200 Mn (about ₹1,890 Cr) within the next 18-24 months and aims to list in FY28

Zypp has doubled its fleet size and net revenue in the past year, and it became EBITDA profitable in FY25, remaining so in FY26

Zypp Electric, an EV-based mobility solutions provider for delivery workers, is preparing for a $200 Mn IPO within the next 18-24 months.
The IPO is expected to take place in FY28, and the startup is currently raising a $40-50 Mn funding round to strengthen its financial and compliance processes.
Zypp’s fleet size has doubled in the last six to seven months, and its net revenue has doubled in the past year.
The startup has become EBITDA profitable in FY25 and has remained so in FY26.
Zypp is expanding into tier-II and tier-III cities through a franchise model, charging a fee of around ₹10 Lakh per partner.

Zypp’s IPO plans come amid growing investor interest in EV infrastructure and logistics businesses, especially as quick commerce companies scale operations across India.
The startup is focusing on strengthening its governance, compliance, and financial reporting processes to prepare for a public listing.
Zypp’s EV platform reduces fuel, maintenance, and vehicle financing costs for delivery workers, positioning it as a key player in the gig economy.

Zypp Electric provides EV-based mobility solutions for delivery workers across e-commerce, food delivery, quick commerce, and bike taxi platforms.
The startup operates in Delhi NCR, Bengaluru, Hyderabad, Mumbai, Pune, and Jaipur, with plans to expand into tier-II and tier-III cities through a franchise model.
Zypp’s core business is EV leasing, with additional revenue streams from EV battery swapping, maintenance, servicing, and advertising on scooters, helmets, and three-wheelers.
The startup has developed a fleet management software platform called Fleekies.ai, which currently has eight to nine paying customers.
Zypp’s advertising business generates around ₹8-10 Lakh in monthly revenue, while the software business generated close to ₹40 Lakh in FY26.

Product: EV-as-a-service platform offering electric vehicle rentals and delivery services through e-scooter fleet
Customers: Gig workers, quick commerce, ecommerce and food delivery platforms, last-mile logistics enterprises
How it makes money: Revenue from last-mile delivery services and vehicle rentals; delivery accounts for ~60% of operating revenue
What sets it apart: Large EV fleet deployed across 15-18 cities with focus on reducing operational costs and emissions