Zypp Electric: Unzipping a Clean Energy Potential
Zypp Electric is a green and profitable solution for everybody!
We all know the challenges the world faces referring to energy consumption and pollution - the need for migration to clean and sustainable energy is urgent! However, this would remain a mere impossibility if we don’t start focusing on our means of transport.
The situation becomes even scarier if we place this problem in an Indian context - a country of 1,5 billion residents with so many people living below the poverty line. With that precise image in mind, two young visionaries decided to launch Zypp Electric, a smart app platform focused on clean and sustainable energy.
The platform was established in 2017 in Gurgaon, Haryana, India by Akash Gupta and Rashi Agarwal. Their only goal was to reduce the emission of greenhouse gases and provide customers with incredible rates of return and friendly collaboration.
Stick around to unzip the whole story of how to make our planet greener for everyone.
How the Story Started
Akash Gupta and Rashi Agarwal are two young individuals who had an interest in computer science and environmental issues since the earliest years of their lives. They were both born and raised in India - a place of their devotedly head-on interest in the well-being of the environment.
Nonetheless, we must address the pollution in India, before we can talk about how Akash and Rashi got to the idea to launch Zypp Electric.
We can’t neglect the fact that more than 90% of all Indians live in cities and areas where the air quality is below the World Health Organization standards. According to 2021 studies, more than 2,5 million people die yearly because of inhaling toxic air.
Akash Gupta knew what is like to live in such polluted areas and had directly experienced the negative effects of toxic air. He spent most of his life in big and overcrowded cities like New Delhi and Jaipur.
On the other hand, Rashi Agarwal is a young girl who has had enough of the traffic chaos, the vehicles, and the deadly gasses they release. In 1995, she started her studies at the Army School Almora, where she finished the 10th board. Right after that, she decided to enroll at the SSJ Campus at Almora.
Her interest in healthy living and environmental responsibility is seen through all the sports she participated in, and the dedication rewards she acquired during her studies between 1995 and 2002. Rashi Agrawal can freely boast to be one of the best students the Almor Campus has ever seen!
Meanwhile, Akash Gupta is already enrolled at the University of Rajasthan, studying Computer Science. He was pretty adamant to continue his studies at the Institute of Management Technology in Ghaziabad.
The path for the meeting between Akash Gupta and Rashi Agrawal was all set, but will it turn out to be a business meeting?
Love and Bussiness Can Go Together
After acquiring his Information Technology & Marketing degree at the Institute of Management and Technology in Ghaziabad, Akash changed many workplaces. He started as an Assistant Manager in Sales and Marketing and managed to climb up to the position of Senior Product Marketing Manager in Airtel.
Rashi, on the other hand, started as a finance intern at ICICI Bank, and in 2017, she became a senior consultant in S&P Capital IQ. Finally, she embarked on her first entrepreneurship journey by founding LesFlaunt.com, a printing business.
It slowly becomes clear the way their studies and interests intertwined their paths, which led to Akash finally meeting Rashi. They gradually fell in love, but the romance didn't stop them from thinking about the different ways of improving the air quality in India.
In 2017, after thorough market research, they founded the first e-bike sharing platform in India, Mobycy. This platform was intended for Indian bike and scooter users to easily find and rent them. Investors like Shell and Indian Angel Investor Fund expressed interest and gave support to Akashi and Rashi.
What happened with Mobycy was a positive market sign and an opportunity to further expand their ideas. Mobycy is still in operation, and it had managed to gather more than 65 investors from all around the world, raising a total funding amount of $4,22 million.
Unzipping the Love for Nature
Akash Gupta and Rashi Agrawal felt that the time for them to introduce their latest invention, the Zypp Electric platform was right.
During all these years, they’ve prepared their plan on how to realize their grand idea: a customer-oriented clean energy platform. The platform had to be connected with the transportation problem on the streets of India and the ever-expanding levels of air pollution.
The business duo devised a great business plan to see their platform work in the most efficient way. Each citizen or business entity can now invest in the Zypp Electric platform with a fixed return of 20.06% (pre-tax) monthly.
Furthermore, the company uses these investments to power up its e-scooter fleet and make fast and eco-friendly product deliveries. Yes, all the Zypp Electric scooters are powered by electricity and they abide by the zero-waste protocols.
Thanks to the innovative ideas of Akash and Rashi, Indians will get fast, eco-friendly deliveries while getting some of their money back.
With everything Akash and Rashi did to make their dream work, we can easily assume that the result of their hard work is both a product of love towards people as it is a finance-oriented business adventure.
Securing the Financial Grounds
The easiest way to fund a start-up is by organizing funding rounds, and Rashi Agarwal and Akash Gupta knew exactly what to do. That’s why they’ve organized 6 funding rounds till now!
The first seed funding round was held on Nov 25, 2017, and a total of a not-so-shabby sum of $500,000 was raised. The second one was an angel round with Venture Catalysts as the main investor. However, the third round was a seed funding round that earned Zypp Electric $2 million dollars.
This was a very encouraging fact for both Rashi and Akash, so, they decided to organize a fourth seed round on May 15, 2021, which also went well. The last Series A round was set up on September 28, 2021, and raised a record $7 million. The main investors were accelerators and ventures like 9Unicorns Accelerator Fund and Anthill Ventures.
Zypp Electrics has managed to gather more than $10 million dollars, so it shouldn’t come as a surprise if we hear an IPO announcement anytime soon.
The Future of Zypp Electric
The network of Zypp Electric is constantly growing and the number of employees headquartered in Gurugram, Haryana reaches more than 200.
At the beginning of 2022, Zypp Electric announced joining hands with Mechanifyspares, a leading Indian online platform for auto components and spare parts for the e-vehicle industry.
However, they’ll have to tackle some great competitors such as IBA Group, Peel Technologies, Kraftful, and iCoderz, but for the goal-oriented young entrepreneurs like Akash and Rashi, it’ll be a piece of cake.
Nonetheless, we should note the fact that Zypp Electric already expanded in 10 major cities in India including New Delhi, Bangalore, Hyderabad, and Pune. According to the latest announcements by the management, Zypp Electrics plans to make more than 4 million pollution-free deliveries by the end of 2022.
With the effectiveness of the business model and the urgent need for migration to clean energies, it’s clear that Zypp Electrics is here to stay.