Zypp Electric, a Gurgaon-based platform that provides electric vehicles for last-mile connectivity to various businesses, reported a revenue of Rs 125 crore, a staggering 500 times increase from the previous year. The company boasts of a gross margin of 35 percent, and was co-founded by Akash Gupta, Rashi Agarwal, and Tushar Mehta.
In 2017, Zypp Electric was founded as a bicycle rental platform, but soon pivoted to offering rental services for e-scooters, which proved successful. Realizing that providing an executive with the bike as a rental service made more sense than selling the two-wheeler, they now have over 12,000 e-bikes in operation. The company has also expanded to Bengaluru, investing around 25 crore in the city.
The total funding raised by the company amounts to 37.5 million dollars, however, their current valuation is undisclosed.
Rashi Agarwal, the CBO of Zypp Electric, is a serial entrepreneur and angel investor with an MBA from IIM Kozhikode. She was a gold medalist in her graduation and a state-level table tennis champion in Almora.
Rashi Agarwal was born and raised in Almora. From a young age, she had a keen interest in becoming a businesswoman. While her father owned a hotel and a cloth wholesale business, she decided not to join him and instead pursued her own entrepreneurial path.
She is married to Gupta.
They established Zypp in 2017, and since then, the company has been experiencing significant growth.
Their clients include Zepto, Ola, Dash, Grab, Uber, Amazon, Flipkart, Myntra, Delhivery, and more.
According to her LinkedIn profile, Rashi Agarwal describes herself as a hustler, fighter, serial entrepreneur, investor, mother, and optimist who aspires to make a positive impact in the world. Her venture, Zypp Electric, is focused on the mission of creating a better place to live in India.
