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Zypp secured $2 mn in seed funding round

Zypp, which is a shared mobility startup which is also earlier known by the name as Mobycy, has now secured $2 million in the funding round of seed led by the IAN Fund.

The startup will now be going to use the funds to grow its fleet of electric scooters to 5000 over the coming few months and expand into the National Capital Region and five more cities as well.

The company has also planned to expand later to Europe and SouthEast and aims to have around 20000 e-scooters on the road by the end of next year, said the announcement.

The company which is founded in 2017, which enables the user to fulfill their daily micro-mobility needs with a range of around 5 km using its app. The app helps to unlock the two-wheelers by scanning a QR code.

“Zypp’s mission of bolstering the electric connected shared mobility space focused on the last mile connectivity in India, falls in line with the overarching vision of IAN Fund,” IAN Fund founding partner Padmaja Ruparel said.

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