• Zypp Electric reported a 50% rise in revenue to ₹455 crore in FY25, driven by fleet expansion and rising demand from the quick commerce sector.
  • The company aims to achieve EBITDA profitability within the next two quarters, following operational growth in Delhi NCR, Bengaluru, and Mumbai.

Electric mobility startup Zypp Electric reported a 50% rise in revenue for the financial year 2024–25, reaching ₹455 crore, up from ₹302 crore in the previous fiscal. The company said the increase reflects strong momentum in the e-mobility and last-mile logistics sectors, where it has expanded operations and delivery capacity.

The company experienced growth in its fleet operations across major Indian cities. In Delhi NCR, the fleet grew by 16% to over 12,000 electric vehicles. Bengaluru saw a 31% increase, with Zypp now operating more than 5,000 vehicles in the city. Meanwhile, operations launched in Mumbai during FY25 have already reached an active fleet size of 2,400 vehicles, according to the company.

Zypp Electric also scaled up its three-wheeler fleet, surpassing 900 units focused on last-mile logistics and its driver rentals segment. The company announced it has completed 100 million deliveries since launching its delivery business.

“FY25 has been a landmark year for us. We've not focused much on growth but rather laid down the groundwork for a sustainable and profitable EV business,” said Akash Gupta, Co-Founder & CEO of Zypp Electric.
“While revenue grew from ₹302 crore to ₹455 crore (pre-audited), there seems to be a clear line of sight of EBITDA profitability over the next 1-2 quarters.”

The growth in delivery volumes was largely driven by the quick commerce segment, which accounted for 47% of deliveries, up from 30% in the previous year. Zypp also reported empowering over 1.2 lakh gig workers with access to its rental-based EV platform, which includes battery swapping and technical services.

In FY25, Zypp introduced a new SaaS product aimed at fleet operators. The software platform supports fleet acquisition, management, and vehicle-level profit and loss tracking.

Gupta added that the company remains focused on maintaining market leadership in its current cities while considering expansion in FY26.

“We continue to ride the electric vehicle and quick commerce tailwind and enable thousands of delivery partners to upgrade from ICE vehicles to EV vehicles on an easy rental plan,” he said.

With increasing fleet utilisation, new revenue streams, and cost optimisation measures, Zypp said it is on track to achieve EBITDA profitability within the next two quarters.

Edited by Harshajit Sarmah