In A First, Zypp Electric Empowers Its Employees with INR 1.5 Cr ESOP Buyback

Akash Gupta (Co-Founder & CEO), Zypp Electric announced ESOPs for Ramsevak, their office boy, in their recent townhall and even announced the same on his Insta channel (KaashSeAkash)

Around INR 1.5 Crore was allocated to 15 employees who have an old association with the company

The company also extended ESOP benefits to the office boy, Ramsevak, a long-term associate within Zypp

Zypp Electric, India’s leading tech-enabled EV-as-a-Service platform, recently announced its first Employee Stock Ownership Plan (ESOP) buyback, allocating around INR 1.5 Crore to 15 dedicated employees who have been associated more than a year of service within the company. This initiative is a step further toward the company's commitment to empowering its workforce and fostering a culture of shared success. Zypp Electric is the first company in the EV segment to offer ESOP buybacks in India.

In the current liquidation, 20% potential is realized with an intent to nurture many millionaires in the journey. This has led to many more employees have come forward to avail ESOP opportunities, showing their commitment to establishing a long-term association with the company and benefitting from its growth. Zypp Electric has also extended ESOP benefits to Ramsevak, a long-term office boy, a testament to their inclusive approach.

Akash Gupta, Co-founder & CEO, Zypp Electric said, "This is like the realization of a long-term personal dream and an accolade to our ambitious journey. I have always been selling ESOPs within the team, however as expected it had few takers on the concept. This realization of the monetary value of ESOPs amidst employees was to make them feel the power of this amazing wealth-creation tool. We aim to continue such initiatives even in future and it's just the beginning. Making millionaires is a dream I see and it is equally important for me to ensure that my team members achieve prosperity as we foray into building the EV revolution, eventually vesting our employees with financial benefits linked to the company's achievements. We believe every team member plays a crucial role in our success, and this ESOP buyback is a step towards ensuring their well-deserved share in the company's growth. Employees have realized the value of up to INR 50 Lacs individually."

The employees at Zypp Electric appreciated this initiative of rewarding their dedication and loyalty towards the company. They expressed it further strengthened their association with the company, motivating them to contribute to its continued growth and success.

Commenting on the company’s progressive initiative, Vishwajeet Singh, AVP, Marketing & Design, Zypp Electric, said, “I’ve been associated with Zypp Electric from its first day and have experienced growth of the company closer than anyone. It’s great to have liquidity coming in as a reward for diligence and motivation for tenure ahead. I’m sure this will motivate other team members and become an example of how ESOPs can be an opportunity for wealth creation along with value creation.”

Speaking about his association and rewarding experience with the company, Sumit Raina, AGM, Business Development, Zypp Electric, said, “A much-appreciated step by the company to reward the loyalty and hard work of the team members. I am about to complete 5 years with Zypp Electric, and this liquidation was exciting for me. I believe this is just the beginning, more is yet to come and more talents will join this journey.”Zypp Electric India’s Leading Tech-Enabled EV-as-a-Service platform, founded in 2017 with a Mission of Zero Emission and to make India carbon-free by using an ecosystem of Electric Vehicles and EV-based technology to make last-mile logistics sustainable and emission-free.

Zypp Electric's business model is to make carbon-free last-mile delivery for local merchants from e-commerce giants to delivery executives and thereby reduce delivery cost and pollution on an asset-light model. The company currently delivers groceries, medicines, food, and e-commerce packages from point A to point B through their fully automated IoT and AI-enabled scooters which are low on maintenance and high on performance. The technology tracks batteries that can be replaced at Zypp swapping stations which are installed at key touchpoints. Eco-friendly EV services also reduce the cost per delivery and help to make the city pollution-free. Currently, it has over 16,000+ (as of June 2023) and increasing Zypp EVs and pilots (delivery executives) working towards this mission.

Uber Launches Uber Green, Unveils EV Partnerships To Charge Up Ride Sharing in India

• Company’s global flagship EV product Uber Green arrives in India in June
• Expands partnership with EV fleet partners Lithium, Everest and Moove
• Teams up with Zypp Electric for 10,000 EV two-wheelers in Delhi by 2024
• Partners with SIDBI to unlock 1000 crores in EV financing
• Brings global BP partnership to India through Jio-bp and also ties up with GMR Green Energy for fast charging Uber EVs

Uber, the global ride sharing app, today announced a slew of partnerships to electrify its services in India, teaming up with leading industry players to accelerate the transition to sustainable mobility. As part of the sustainability push, the mobility major announced the rollout of Uber Green in Delhi, Mumbai and Bengaluru, starting June 2023. Uber Green allows passengers to request an all-electric, zero tail-pipe emission vehicle rather than a regular fossil-fuelled car, bringing to India an on-demand EV experience with just a few taps on the app. Uber Green is the most widely available on-demand mobility solution in the world for no or low emission rides, present in 100+ cities in 15 countries around the world.

(L-R) — Andrew Macdonald and Prabhjeet Singh

Commenting at the event, Andrew Macdonald, Senior Vice President, Mobility and Business Operations at Uber, said, “India’s huge scale and electrification momentum makes the country a priority for Uber as we seek to meet our commitment to electrify every ride on our platform by 2040. Today, we are taking a major step toward that goal with the launch of Uber Green. We know that our impact goes beyond technology. We are determined to become allies of cities and governments as they seek to combat climate change and pollution through sustainable mobility.”

Alongside the launch of Uber Green, Uber announced a series of new partnerships to sustain the EV momentum:

• Fleet Partner Expansion: Uber is expanding its network of fleet partners to unlock EV growth on its platform. Lithium Urban Technologies, India’s largest B2B fleet service provider, Everest Fleet Private Limited, and Moove, Uber’s global fleet partner, will deploy 25,000 electric vehicles across Uber’s top seven cities helping drivers go electric faster.
• EV Two Wheeler Partnership: Uber is tying up with tech-enabled EV-as-a-service startup Zypp Electric to deploy 10,000 electric two-wheelers by 2024 to boost sustainable mobility in its fast-growing Uber Moto category. Over 1000 Zypp Electric two-wheelers are already deployed on Uber Moto in Delhi.
• EV Financing: Uber and Small Industries Development Bank of India (SIDBI) have signed an MoU to support the purchase of cleaner fuel vehicles - EV and CNG. The partnership will help provide affordable loans of approximately Rs 1000 crores, creating an enabling environment to shift from high emission fuel vehicles to no or low tailpipe emission vehicles.
• EV Charging Infrastructure: Uber is forging two significant partnerships in the field of charging infrastructure. It is bringing its global mobility agreement with bp pulse to India in partnership with Jio-bp. This partnership will enable the drivers on Uber platform to get access to their charging networks and also enable new charging infra development. Uber has also signed an MoU with GMR Green energy to create bespoke charging facilities.

Speaking at the launch, Prabhjeet Singh, President, Uber India and South Asia said, “Going all-electric is a challenge that’s bigger than Uber. We can’t do it alone. To be successful, the economic burden of making the transition to EVs should not fall on drivers. With these industry leading partnerships, we are matching commitment with action to help drivers go electric faster and supercharge sustainable transition in India’s ride sharing industry.”

Uber has committed to become a zero-emissions mobility platform by 2030 in Europe and North America, and globally by 2040. On sustainability, Uber has more than tripled the number of electric vehicles on the platform and connected 31 million unique riders with a ride in an electric vehicle in 2022. The Science Based Targets Initiative has also approved Uber’s near and long-term science-based emissions reduction targets, making us one of the first 30 US-based companies to have such targets approved.

Uber’s mission is to create opportunity through movement. We started in 2010 to solve a simple problem: how do you get access to a ride at the touch of a button? More than 10 billion trips later, we're building products to get people closer to where they want to be. Uber is available across 125 cities in India where people can book a ride on our app across two, three and four wheel products designed for their intra city and intercity travel needs. By changing how people, food, and things move through cities, Uber is a platform that opens up the world to new possibilities.

Zomato and Zypp Electric Associates for 1 Lakh e-Scooters Deployment for Last-Mile Deliveries

Zypp Electric, India’s largest tech-enabled EV-as-a-service platform has announced its association with Zomato for deploying 1 lakh e-scooters by 2024. As part of the association, Zypp will also provide delivery partners to Zomatofor the last-mile deliveries in various cities in India.

Zypp Electric has made significant strides in sustainable transportation by deploying over 13,000 electric vehicles on the roads. Zypp aims to significantly reduce carbon emissions by up to 35 Million+ kg and targets to achieve more than 1 Crore deliveries through its electric vehicles by 2024. This association is a part of a larger plan of Zomato to go completely electric by 2030 as part of its commitment to “The Climate Group’s EV100” initiative. With over 50 major clients, Zypp is transforming the delivery and ride-sharing industry with their sustainable and efficient tech enabled EV solutions.

Commenting about the association, Mohit Sardana, COO, Food Delivery at Zomato said, "We are excited to associate with Zypp Electric to take another step towards our goal of going completely electric by 2030. This association will enable us to significantly reduce carbon emissions and bring more sustainable last-mile delivery options to our customers. We look forward to working together to create more efficient and environment friendly deliveries."

Commenting on the partnership, Tushar Mehta, COO & Co-founder, Zypp Electric said, "The association between Zypp and Zomato represents an enormous opportunity to revolutionise the food ordering and delivery industry and transform the way food is delivered. Food delivery is all on 2-wheelers and is mostly running on petrol and at the same time wanting to shift to EVs to save costs. By leveraging our EV Fleet Management technology and innovative partner solutions, we aim to create a more efficient, sustainable, and customer-centric delivery experience that will set a new standard in the industry. Through this association, we aim to drive growth and expansion into multiple markets. Our approach will empower gig workers and provide them with exciting earning opportunities, while also ensuring environmentally responsible and socially conscious operations for customers like Zomato."

Zypp is currently serving Zomato, Swiggy, BigBasket, Amazon, Flipkart, Zepto, Blinkit, and many more with EV solutions as well as delivery partners. Their Internet of Things enabled electric scooters are perfect for last-mile logistics, offering in-house build fleet management technology and features to drive utilisation. Its commitment to sustainability has resulted in a positive impact on the environment, as they strive to create a cleaner, greener future for all.

ABOUT ZYPP ELECTRIC:

Zypp Electric is India’s Leading Tech-Enabled EV-as-a-Service platform, founded in 2017 with a Mission Zero-Emission and to make India carbon-free by using an ecosystem of Electric Vehicles and EV-based technology to make last-mile logistics sustainable and emission-free. Zypp Electric's business model is to make carbon-free last-mile delivery for local merchants to e-commerce giants to delivery executives and thereby reduce delivery cost and pollution on an asset-light model. The company currently delivers groceries, medicines, food, and e-commerce packages from point A to point B through their fully automated IoT and AI-enabled scooters which are low on maintenance and high on performance. The technology tracks batteries that can be replaced at Zypp swapping stations which are installed at key touchpoints. Eco-friendly EV services also reduce the cost per delivery and help to make the city pollution-free.

Zypp Electric Appoints Vice President Business Head and Director of Engineering- Ketan Ray & Amit Goyal

Zypp Electric, India’s largest EV-as-a-service startup, today announced the expansion of its leadership team with the appointment of Amit Goyal as Director of Engineering and Ketan Ray as Vice President Business Head. The new hirings will take forward Zypp’s mission of building a robust ecosystem of electric vehicles that helps businesses as well as gig workers.

F-B — Amit & Ketan

In his new role, Amit will be responsible for Designing the structure of technology systems and managing the implementation of technology projects at Zypp. He will be working with industry leaders to plan the future IT requirements of the organisation and carrying out the testing procedures to satisfy quality standards and procedures.

Ketan will oversee portfolio expansion of Zypp from current mainly two-wheelers to three-wheelers & more to cater to the variety of customer use cases.

Commenting on the new appointments, Rashi Agarwal, Co-founder and CBO, Zypp Electric, shared, “The EV logistics sector is set to disrupt the industry remarkably with electric vehicles and their usage going mainstream. As the leader in electric logistics, Zypp plans to capture a lion’s share of the market offering trouble free service and cutting-edge technology that is attainable. As we lay the groundwork for Zypp's future, we are pleased to bring Amit and Ketan to our fold. They bring in decades of sector expertise in their respective professions and we are happy to have them on board as Zypp Electric looks to the future.”

Amit Goyal, a certified Scrum master and Java 8 expert, brings 17 years of knowledge and experience in the IT sector. He also co-founded a US based food tech startup, FoodEspa and formerly worked as an Architect in Ericsson.

Upon joining Zypp Electric, Amit Goyal, Director of Engineering, Zypp Electric, said, "I see Zypp Electric continuing to play a critical role as an industry catalyst in everything last-mile logistics. I intend to contribute to the process by making it more efficient through the use of technology. Being a member of the Zypp team, my role will be to guarantee that servicing and technology work in tandem to support Zypp Electric's expansion into the ecosystem."

Ketan Ray has a remarkable 14-years career in business operations, consulting, and engineering, as well as entrepreneurial expertise in Food Tech and Cloud Kitchen. Ketan formerly worked as a Director of Operations at Euler Motors, where he oversaw the expansion of EV mobility services across four major Indian cities, generating threefold revenue growth.

Ketan Ray, VP Business Head, Zypp Electric said, "In the last few years, Zypp Electric has partnered with big names in the industry and boarded the best OEMs and technology providers. My goal is to make Zypp become the largest and most preferred EV mobility partner for last-mile logistics to all ecommerce and CPG behemoths with highest roadshare in all tier-1 and tier 2 cities.”

Zypp Electric has raised $12.5 million so far from investors like 9Unicorns, Anthill Ventures, Riso Capital Fund, LetsVenture, Nanavati Family Office, We Founder Circle, Dholakia Ventures, Venture Catalysts, and IAN Fund, amongst others. The Gurgaon-based startup has partnered with 50+ eCommerce and food/grocery/medicine delivery platforms and is looking to expand to 20 cities in India by the end of FY-25.

ABOUT ZYPP ELECTRIC:

Zypp Electric is India’s Leading Tech-Enabled EV-as-a-Service platform, founded in 2017 with a Mission Zero-Emission and to make India carbon-free by using an ecosystem of Electric Vehicles and EV-based technology to make last-mile logistics sustainable and emission-free. Zypp Electric's business model is to make carbon-free last-mile delivery for local merchants to e-commerce giants to delivery executives and thereby reduce delivery cost and pollution on an asset-light model. The company currently delivers groceries, medicines, food, and e-commerce packages from point A to point B through their fully automated IoT and AI-enabled scooters which are low on maintenance and

high on performance. The technology tracks batteries that can be replaced at Zypp swapping stations which are installed at key touchpoints. Eco-friendly EV services also reduce the cost per delivery and help to make the city pollution-free.

EV-as-a-Service Platform Zypp Electric Partners with EVs' Spare Parts Provider Mechanifyspares

Zypp Electric, India’s leading EV logistics company, today announced joining hands with Mechanifyspares, India’s first online platform dedicated to providing auto components and spare parts for EVs, to procure and repair the 5000+ EVs currently on road, seamlessly. With Zypp Electric, Mechanifyspare aims to organize the disconnected electric two-wheeler (E2W) market by augmenting the existing supply chain and proprietary technology.

Under this partnership, Zypp’s dedicated team that handles repairs of its EVs will now be able to procure required spare parts by placing an online order and getting it delivered across the cities Zypp is present in. Further, Zypp will also enable Mechanifyspares in becoming a one-stop solution for all sorts of EV challenges related to maintenance and repairing.

Akash Gupta, Co-founder & CEO

The industry is growing at an unprecedented pace with India’s EV market projected to grow by 90% to $150 billion in the next decade. While the ecosystem is training ICE garage mechanics to repair EVs as smoothly as an ICE, the lack of an organized spare part provider makes repairing inaccessible to many EV users.

Akash Gupta, Co-Founder & CEO, Zypp Electric, said, “As we move to fulfill our dream of putting 100,000 EVs on the road for last-mile logistics by this year, we’re super excited to create an end-to-end journey for all our partners with Mechanify. While there has been significant growth in the sale and purchase of EVs, there’s a massive gap in last mile EV challenges like maintenance or repairs. Having Mechanify on board will help us provide a well-serviced vehicle that runs without any problems. Mechanifyspares will be able to solve a major issue of procuring branded spare parts to our team and help us remove the bottlenecks we would otherwise face at this stage of growth."

Viren Thakur and Ujjwal Seth, Founders, Mechanifyspares, said, “While India saw growth in EV adoption and charging infrastructure, it lacks a connected ecosystem that resolves end-to-end problems. More often than not, industry, garage owners, suppliers, and others face difficulties in obtaining genuine two-wheeler parts due to the unorganized nature of the EV ecosystem. At Mechanify, we want to organize the unorganized spare part industry and address an underlying challenge hindering the EV adoption in India."

The development comes as Zypp is expecting logistics and ecommerce companies to opt for an aggressive switch post-Delhi government’s new EV norm. As India’s B2B gears up for an electric future, Zypp is ramping up its fleet by 4X to cater to the rising demand. Starting April, Zypp plans to add 2000 new EVs every month into its fleet.

The EV platform has already has partnered with 100+ partners across logistics, grocery, food and pharma sector, including Z​omato, Swiggy, BigBasket, Blinkit, Flipkart, Amazon, Myntra, PharmEasy, Delhivery, Licious, Spencers and the likes.

About Mechanifyspares

Mechanify was started by Viren Thakur and Ujjwal Seth in 2019. Post receiving funding in September 2019, the company started its operations in Gurugram to build an organized B2B e-comm platform to deliver two-wheeler spare parts. Their goal is to become the automotive parts industry's most trustworthy company. They were part of Zypp EVolve Innovation Program that aims at improving EV and logistics industry through innovative business models.

About Zypp Electric

Zypp Electric is India’s Leading Tech-Enabled EV-as-a-Service platform, founded in 2017 with a Mission Zero-Emission and to make India carbon-free by using an ecosystem of Electric Vehicles and EV-based technology to make last-mile logistics sustainable and emission-free. Zypp Electric's business model is to make carbon-free last-mile delivery for local merchants to e-commerce giants to delivery executives and thereby reduce delivery cost and pollution on an asset-light model. 

The company currently delivers groceries, medicines, food, e-commerce packages from point A to point B through their fully automated IoT and AI-enabled scooters which are low on maintenance and high on performance. The technology tracks batteries that can be replaced at Zypp swapping stations which are installed at key touchpoints. Eco-friendly EV services also reduce the cost per delivery and help to make the city pollution-free. Currently, it has over 5000 and increasing Zypp EVs and Pilots (delivery executives) working towards this mission.