Zypp Electric, a B2B delivery and shared mobility startup, reported a 50% year-on-year revenue increase in the fiscal year ending March 2025, surpassing Rs 400 crore in revenue. The company’s revenue from operations grew to Rs 438 crore in FY25 from Rs 293 crore in the previous fiscal year. Zypp Electric operates as an EV-as-a-service platform, offering electric vehicle rentals and delivery services through its e-scooter fleet for gig workers. Revenue from delivery services constituted 74% of the operating revenue, climbing 56% to Rs 323 crore in FY25.
Income from vehicle rentals also experienced growth, reaching Rs 111 crore in FY25 compared to Rs 84 crore in FY24. However, despite the revenue growth, the company faced challenges, with total expenses escalating by 42% to Rs 556 crore in FY25 from Rs 392 crore in FY24. This surge in costs resulted in Zypp Electric recording a loss of Rs 107.5 crore in FY25, a significant increase from the Rs 89.5 crore loss in FY24. The company’s ROCE and EBITDA margins stood at -52.16% and -15.98%, respectively.
Zypp Electric’s financial performance underscores the competitive landscape in the EV industry and the challenges faced by startups in scaling operations while managing costs effectively. The company’s ongoing efforts to secure funding, including raising Rs 55.4 crore ($6.5 million) from investors, reflect its commitment to sustaining growth and innovation in the evolving electric mobility sector.
Source: Entrackr : Latest Posts