Results · Mobility & Logistics

Zypp Electric posts lower loss as EV rental revenue grows

By Startup Enthusiast · 15 August 2026

What they do

Zypp Electric provides electric vehicle rentals and last-mile delivery services to gig workers

The company reported a consolidated net loss of ₹59.7 Cr for FY26, down significantly from the previous year

It plans to raise $200 Mn in an initial public offering within the next 22 months

Zypp Electric reported a consolidated net loss of ₹59.7 Cr for fiscal year 2026.
This loss represents a 44.4% decrease compared to the ₹107.5 Cr loss recorded in FY25.
Operating revenue grew by 5.2% to reach ₹461 Cr during the same period.
Total revenue including other income stood at ₹475.6 Cr for FY26.
Delivery service revenue saw a slight decline to ₹322.4 Cr from ₹323.1 Cr in FY25.
In contrast, EV rental revenue surged by 24% to ₹137.7 Cr from ₹111 Cr.
The company is planning an initial public offering (IPO) to raise $200 Mn.
The IPO is expected to take place within the next 22 months.

The reduction in losses indicates improving operational efficiency or cost management.
Growth in EV rental revenue suggests strong demand for electric two-wheeler subscriptions.
The planned IPO signals readiness for public market listing and capital expansion.

Zypp Electric offers EV-based mobility solutions primarily targeting gig economy workers.
Its core services include last-mile delivery and electric vehicle rentals.
Clients include major quick commerce, ecommerce, and food delivery platforms.
Revenue comes from per-delivery charges with a portion paid directly to riders.
Rental plans for electric two-wheelers are available on daily, weekly, and monthly bases.
Key platform partners include Zomato, Blinkit, and Zepto.
The company positions itself as India's largest EV rental platform.
It operates in a market projected to be a $17.9 Bn opportunity by 2032.
Competitors in this space include Yulu, Alt Mobility, and MoEving.

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