Zypp Electric zooms to ₹455 crore revenue, eyes profitability in next 2 quarters

Electric mobility and last-mile logistics platform Zypp Electric reported a 50% rise in revenue for FY2024-25 to nearly ₹455 crore, up from ₹302 crore a year earlier, according to unaudited numbers. The company said it expects to achieve EBITDA profitability over the next one to two quarters, driven by operational and technological improvements.

"While revenue grew from ₹302 crore to ₹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 FY25 for tech, team, partnerships & pushing sustainable growth levers,” said Akash Gupta, Co-Founder & CEO of Zypp Electric in a statement. 

During the year, Zypp crossed 100 million deliveries since its inception, with quick commerce accounting for 47% of total deliveries, up from 30% in FY24. The company deployed more than 22,000 electric vehicles and gig delivery partners across key cities including Delhi NCR, Bengaluru, and Mumbai. Zypp Electric has partnerships with nearly all major quick commerce platforms, including Zomato, Swiggy, Amazon, BigBasket, and Blinkit, with Zepto being a notable exception.

Fleet operations expanded steadily with Delhi NCR seeing a 16% growth to over 12,000 vehicles, Bengaluru posting a 31% rise to more than 5,000 vehicles, and Mumbai, where operations began last year, scaling up to 2,400 vehicles. Zypp also grew its three-wheeler (3W) business, crossing 900 3W EVs catering to last-mile logistics through driver rental services.

The company said it completed over 20 million green deliveries during the year, helping to reduce approximately 45 million kilograms of carbon emissions.

Zypp introduced several new business initiatives in FY25, including a SaaS platform for fleet acquisition, management, and profitability tracking, and a new advertising business allowing brands to advertise on vehicles and rider accessories.

The company also strengthened partnerships with EV manufacturers, battery-swapping firms, and fintech leasing companies to ensure vehicle supply, improve fleet uptime, and offer cost-effective leasing options.

Additionally, Zypp launched a pilot program to train EV mechanics and technicians, aiming to support India's growing EV ecosystem. The company plans to deepen its expansion in FY26 through strategic partnerships and ecosystem investments.