Zypp Electric, an electric vehicle (EV)-as-a-service platform, has raised USD 15 million in its Series C funding round, enabling the company to expand its fleet from 21,000 to 2,00,000 e-scooters across 15 Indian cities by 2026.

The funding round, led by Japanese major ENEOS, comprised USD 15 million in equity as part of its ongoing USD 50 million round, which includes USD 40 million in equity and USD 10 million in debt. Existing investors such as 9unicorns, IAN fund, Venture Catalysts, and WFC participated in this round. This investment advances its mission to revolutionise last-mile delivery through sustainable EV solutions.

These funds will be utilised to drive the company towards the full path of growth. The recently launched operations in Mumbai and Hyderabad. Zypp has entered the three-wheeler cargo business and is poised to surpass 1,000 electric L5 loaders in its fleet. Zypp is operating its business as a pioneer in the EV motorcycle delivery market.