Zypp Electric secures Rs 55.4 Cr in ongoing Series C funding round
Zypp Electric kickstarted its Series C round in may last year, raising $15 million led by Japanese major ENEOS.
Gurugram-based tech-enabled EV-as-a-service platform Zypp Electric is reportedly raising Rs 55.4 crore ($6.5 million) from 16 investors, potentially as part of its ongoing Series C funding round.
According to the company’s Registrar of Companies (ROC) filings, the company passed a special resolution to issue 564 Series C2 compulsory convertible preference shares (CCPS) of face value Rs 10, each at a premium of Rs 9,82,995.38.
The company will be valued at around $335-350 million post the funding round.
The development was first reported by Entrackr.
A total of 16 individuals, including Kapil Kriplani, Narinder Bajaj, Neeraj Goel, and Samir Goenka, are set to participate in the investment.
In May 2024, the company kickstarted its Series C round, raising $15 million led by Japanese major ENEOS. The round also saw participation from existing investors 9unicorns, IAN fund, Venture Catalysts, WFC, and others.
Founded in 2017, the company’s key partners include BigBasket, Zepto, Flipkart, Myntra, Zomato, Swiggy, Blinkit, Uber, Porter, Rapido, 1MG, Delhivery, and Blue Dart.
Edited by Kanishk Singh