EV Logistics Startup Eyes Public Listing as India's Electric Mobility Sector Gains Momentum

Electric vehicle logistics startup Zypp Electric is preparing for a major public market debut, with plans to raise up to $200 million through an initial public offering (IPO) in FY28. The Gurugram-based company has reportedly appointed leading investment bankers to steer the listing process as it accelerates growth in India's rapidly expanding EV ecosystem.

According to reports, Zypp Electric has engaged Axis Capital, SBI Capital Markets, and DAM Capital as advisors for the proposed IPO, which is expected to be launched after the completion of its ongoing pre-IPO funding round.

Zypp Electric Plans $40-50 Million Pre-IPO Funding Round

Before heading to the stock market, Zypp Electric is looking to raise between $40 million and $50 million in a pre-IPO funding round. The company aims to significantly enhance its valuation through the capital raise, with expectations of nearly doubling its current market value.

Data from startup intelligence platform Tracxn shows that Zypp Electric was valued at approximately $331 million as of March 2025.

Since its inception, the company has raised around $76.5 million from prominent investors, including Goodyear Ventures, Venture Catalysts, Indian Angel Network Fund, We Founder Circle, 100Unicorns, and IVY Growth Associates.

Zypp Electric Strengthens Position in EV Logistics Market

Founded in 2017 by Akash Gupta and Rashi Agarwal, Zypp Electric operates an EV-as-a-Service platform that provides electric scooters and electric cargo loaders to delivery partners and e-commerce companies for last-mile logistics operations.

The company has emerged as one of the leading players in India's sustainable mobility and delivery ecosystem, helping businesses transition to cleaner transportation solutions.

Its business model focuses on reducing logistics costs while promoting environmentally friendly transportation across urban markets.

Revenue Growth Continues Despite Expansion Costs

Zypp Electric's parent entity, Bycyshare Technologies, reported strong revenue growth during FY25.

The company recorded operating revenue of ₹437.9 crore in FY25, compared to ₹292.7 crore in FY24, reflecting growing demand for electric mobility solutions and last-mile delivery services.

However, as the company continues to invest aggressively in fleet expansion, technology, and infrastructure, its losses widened to ₹107.5 crore during FY25, compared to ₹89.6 crore in the previous financial year.

Franchise Model Expands Electric Fleet Network

In 2025, Zypp Electric introduced a franchise-owned, company-operated (FOCO) model to accelerate fleet deployment.

Under this model, individual investors, family offices, institutions, and high-net-worth individuals can invest in company-approved electric vehicles, while Zypp manages operations, maintenance, and deployment.

The initiative is expected to help the company scale its EV fleet rapidly without significantly increasing capital expenditure.

Competition Intensifies in India's EV Mobility Sector

Zypp Electric operates in a competitive market alongside major EV mobility players such as Yulu, Alt Mobility, and EVeez.

The company is positioning itself to benefit from the rapid adoption of electric vehicles across logistics, delivery, and urban transportation segments.

Industry analysts believe demand for electric fleet services will continue to grow as businesses focus on reducing fuel costs and meeting sustainability goals.

India's EV Sector Attracts Record Investments

India's electric vehicle ecosystem has witnessed substantial investor interest over the past decade.

According to Tracxn data, funding in India's EV sector increased dramatically from $40.6 million in 2017 to $1.67 billion in 2025. Investments worth $418 million have already been recorded in 2026.

The broader sector is also witnessing significant capital market activity. Recently, Ola Electric Mobility raised approximately ₹780 crore through a qualified institutional placement (QIP), while Ather Energy is reportedly preparing to raise around ₹2,500 crore through a similar route.

IPO Could Mark a Major Milestone for Zypp Electric

If successful, Zypp Electric's proposed IPO would represent a significant milestone in the company's growth journey and further strengthen investor confidence in India's electric mobility sector.

With rising EV adoption, expanding logistics demand, and growing investor interest, Zypp Electric is aiming to position itself among the leading publicly listed electric mobility companies in the country.

Inputs from Agency