Zypp Electric’s Revenue Zooms 2.7X, Nears INR 300 Cr Mark

Zypp Electric, a Delhi NCR-based EV two-wheeler startup, saw its revenue surge 2.7 times to INR 292.7 Cr in FY24, up from INR 109.1 Cr the previous fiscal year. Including other income, the total revenue reached INR 302.6 Cr. Despite the revenue growth, the startup’s net loss increased by 125% to INR 91.1 Cr. Zypp Electric generates revenue by renting its two-wheeler EVs to delivery executives of e-commerce startups. The company’s significant revenue growth highlights the increasing demand for electric vehicles in the last-mile delivery sector.