Zypp Electric, India’s leading EV-as-a-service platform, has witnessed a robust financial performance for the fiscal year 2024-25, recording a significant ~50% growth in revenue. The company’s revenue surged from ₹302 crore in FY’24 to ~₹455 crore in FY’25, further strengthening its position in the rapidly growing electric mobility and last-mile logistics space.
This fiscal year, Zypp Electric demonstrated substantial growth, crossing the 100 million deliveries mark since its inception. Notably, quick commerce accounted for 47% of these deliveries, up from 30% in FY’24, highlighting the company’s expanding role in eco-friendly logistics solutions. Clients have responded with consistently positive feedback, especially appreciating Zypp Electric’s strong and reliable delivery supply chain. In turn, the platform empowered over 1.2 lakh gig delivery partners to boost their earnings via a daily rental EV tech platform equipped with swapping & technician services.
Zypp’s fleet operations witnessed significant growth across key cities — Delhi NCR saw a 16% increase, expanding to over 12,000 vehicles; Bangalore achieved a 31% surge, now operating more than 5,000 vehicles; and in Mumbai, operations launched in FY’25 have already scaled to an active fleet of 2,400 vehicles. The company also scaled up its 3-wheeler business and crossed 900 3W EVs in the wheeler space, catering to last-mile logistics via the driver rentals business. In this process, Zypp Electric completed its 100 million deliveries since the launch of its delivery segment and reduced 45 million kg of carbon emissions.
In FY’25, Zypp Electric made strategic strides across technology, operations, and expansion. The company streamlined its standard operating procedures, strengthened its technology stack, and built a scalable, future-ready team, laying a strong foundation for efficient growth and long-term sustainability. Further advancing its tech-led offerings, Zypp Electric introduced a SaaS platform, an end-to-end software solution for fleet acquisition, management, and fleet-wise P&L tracking. It focused on enhancing the delivery partner experience, reducing downtime, and maximising fleet utilisation, further contributing to operational excellence. They also introduced Zypp Advertising Services, enabling brands to advertise on their vehicles and rider accessories. These innovations open new revenue streams and further position Zypp Electric as a comprehensive EV services provider.
Meanwhile, FY’25 was instrumental in Zypp Electric to deepen its ecosystem collaborations, partnering closely with EV OEMs, battery-swapping companies, and fintech leasing providers. These alliances have proven crucial in ensuring a steady supply of high-quality electric vehicles, providing cost-effective leasing options, and improving fleet uptime through robust swapping infrastructure. The synergy created by these partnerships has enabled Zypp Electric to scale rapidly while maintaining service quality. Entered into strategic collaborations with EV OEMs & Battery swapping businesses to cater to a larger expansion plan in FY’26.
Akash Gupta, Co-Founder & CEO of Zypp Electric, said, “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. While revenue grew from Rs. 302 crore to Rs. 455 crore (pre-audited), I see a much clearer line of sight of EBITDA profitability over the next 1-2 quarters, looking at several interventions done in FY’25 for tech, team, partnerships & pushing sustainable growth levers. We continue to focus on market leadership from the existing 3 markets to more markets in the coming FY’26 while keeping a strong eye on profitability. We continue to ride the EV & Quick commerce tailwind & enable thousands of delivery partners to upgrade from ICE vehicles to EV vehicles on an easy rental plan without any high downpayment & EMI hassle backed with maintenance & charging/swapping services on their fingertips which enable them to save Rs. 5-6k extra over a petrol vehicle via Zypp Electric rental platform.”
To support the growing ecosystem, Zypp Electric also initiated a pilot training program for skilled mechanics and technicians in EV maintenance and repair, aligning with its commitment to building a sustainable and self-reliant EV infrastructure in India.
With higher fleet utilisation, expanding revenue verticals, and a sharp focus on cost optimisation, Zypp Electric is now on track to achieve EBITDA breakeven in the coming months. As the EV sector continues to evolve, Zypp Electric remains focused on driving innovation, enabling livelihood, and delivering clean, tech-powered logistics at scale, paving the way for a greener and more efficient future of mobility.
