Zypp Electric To Support Budding EV Start-Ups With Funding

Zypp Electric, India's leading EV logistics tech delivery start-up has partnered with India's early-stage incubator Venture Catalysts to support budding EV start-ups. Under this drive, Zypp Electric with Venture Catalyst is organising an innovative challenge programme, called Zypp Evolve S1 - EV/Logistics Innovation Challenge. Under the programme, Zypp Electric will support every individual/team/start-up who has disruptive and innovative ideas to revolutionise the EVs and logistics industry and get noticed by industry-leading last-mile electric delivery brands like Zypp Electric and funded by Venture Catalysts. Start-ups will get $ 25,000 and a chance to get additional $200,000 funding from Venture Catalysts.

Also Read: Zypp Electric Raises $7 Million In Series A Funding

(Akash Gupta, Co-founder and CEO, Zypp Electric, says that the drive to fund new and budding start-ups will help bolster the EV ecosystem, and will also give these start-ups exposure and insights from industry leaders. )

"We are very thrilled and excited to launch this drive for this innovative challenge for the EV & Logistics start-ups in association with Venture Catalysts. This drive is for every individual, company or budding start-up who has disruptive and innovative ideas. While we are doing so many things in building the right EV ecosystem at Zypp, this challenge is intended to further bolster our EV mission of a sustainable world. We aim to revolutionise the EVs and logistics industry together with younger talent. It will not only give recognition to these start-ups or individuals, but will give them exposure and insights from industry leaders and also committed business and partnership opportunities of scaling with Zypp. They will get also get funding which will give them wings to fly in the initial years of their professional and start-up journey." said Akash Gupta, Co-Founder & CEO of Zypp Electric.

Also Read: Sun Mobility, Zypp Electric Partner To Deploy 10,000 EVs For Last Mile Delivery

"Venture Catalysts believes that start-ups relying on clean energy are going to be the next big thing and hence we support the EV economy. We are extremely bullish on Zypp, our portfolio start-up, which is already a leader in the EV segment. This initiative could be a great platform for younger teams, start-ups and individuals to get business and funding opportunities via Zypp and Venture Catalysts. Venture Catalysts continues to support Zypp Electric's journey and looks to forge deeper partnerships into creating a complete EV ecosystem in the country," said Dr. Apoorva Ranjan Sharma, MD, Venture Catalysts.

Also Read: Zypp Electric Reports 6X Revenue Growth

Zypp Electric has announced taking on over 1,100 new hires during the pandemic

Under this drive, Zypp Electric will support all the upcoming start-ups working in different fields such as electric vehicle manufacturing, logistics, drones, autonomous vehicles, batteries, battery management systems, EV service and maintenance, motors, controller, technology, machine learning (MK) Internet of Things (IoT), artificial intelligence (AI) and charging infrastructure. Start-ups under this drive will get a chance to present to Venture Catalysts and get funding of up to $ 200,000 by Venture Catalysts and Zypp Electric. They will get committed business scale-up opportunities with Zypp of orders up to Rs. 5 crore. Zypp Electric will provide them with incubation support, and these start-ups will get to work at Zypp Electric's offices free of charge for prototyping and testing for upto 3 months and Zypp will also provide them mentorship from top industry leaders.

Also Read: Zypp Electric Launches Operations In Bengaluru & Pune

Zypp Electric has recently begun operations in Bengaluru and Pune with 100 riders in each city. The company now has operations across 9 cities.

Zypp Electric was founded in 2017, and offers services EV last mile delivery for local merchants and e-commerce giants. The company currently delivers groceries, medicines, food, packages from point A to point B through their fully automated IoT and AI-enabled scooters which are low on maintenance and high on performance. The tech tracks batteries that can be replaced at Zypp swapping stations which are installed at key touch-points.