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EV startup founder hits the best spot for business in India

In the year 2017, Delhi-based Akash Gupta had worked with some of the elite companies like Airtel, Snapdeal, and Mobikwik. However, he started working with eagerness to solve the pollution crisis. His immense effort and research have helped his to land in the area of electric vehicle in which he found two ways to go about it that are solving the last mile commutes or delivery. Soon, he started by solving the last mile commute glitches with his startup Mobycy.

After two years, Gupta has even realized that the Indian market isn’t ready to adopt EVs completely and helps in creating the infrastructure might take time, “But last-mile delivery was already happening, albeit on petrol and diesel vehicles,” as he mentioned to the news reporter.

In November 2019, Gupta along with his co-founder Shivraj Singh and Rashi Agarwal which build the switch from B2C to B2B, and soon it was rebranded company to Zypp. He also mentioned, “When we started focusing on last-mile delivery, we realized that profitability is a sooner path and the problem could be solved faster.”

Currently, the company partnered with the clients like Bigbasket, Spencer’s, Amazon, Flipkart, Licious, Myntra, and some of the top brands among them. It helps the companies in serving the last mile deliveries through the Zypp EVs and also trains Zypp delivery executives.

He said, “I feel it has more potential because to shift the consumer to an EV, you need to have the infrastructure right which will take time. But with businesses, you can go national with them, as they will see there is a cost-saving mechanism there.”

However, the pivot even worked well for Zypp and even the size has grown four times within the last two years. Gupta mentioned, “Frankly our revenue has grown eight times. We have onboarded more than 200 B2B customers and our vehicle utilization has gone up from 60% to 85%. Demand is pretty sorted in the B2B market.”

In 2019, November, this startup has last raised its fund which was around Rs. 15 crores from the Indian Angel Network. Well, the startup now is back in search of funds again.

As the company is located in Delhi NCR and Jaipur, soon it’s planning to spread itself in the cities like Bengaluru, Pune, and Hyderabad.

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