Gurugram-based Zypp Electric readies $150-$200 million IPO and pre-IPO round
Zypp Electric, a Gurugram-based startup known for renting out electric vehicles to delivery riders, is gearing up for a big move: a $150 million to $200 million IPO.
It has brought in Axis Capital, SBI Capital Markets, and DAM Capital to help make it happen.
Plus, it is wrapping up a pre-IPO funding round in the next few months that could bump its valuation even higher.
Revenue ₹437.9 cr losses ₹107.5 cr
Zypp's revenue soared to ₹437.9 crore last year (up from ₹292.7 crore), but losses also grew to ₹107.5 crore.
Still, investors are betting big: Zypp was last valued at about $331 million as of March 2025 and has raised $76.5 million from names like Goodyear Ventures and Venture Catalysts.
Founded in 2017, Zypp is part of a booming Indian EV scene: investments in the sector jumped from just $40.6 million in 2017 to $1.67 billion in 2025—competing with players like Yulu and Alt Mobility for greener logistics solutions.