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Zypp Electric Begins Operations in Southeast Asia by Mid-2025
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Indian•Zypp Electric•Japanese•ENEOS Corporation•India•Southeast Asia•9Unicorns•IAN Fund•Venture Catalysts India•WFC
Resolution / Starting Odds
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Press releases or official statements from Zypp Electric
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Zypp Electric Secures $15M from ENEOS in Series C, Valued at $270M
May 27, 2024, 09:18 AM
Gurgaon-based Indian electric vehicle startup Zypp Electric has secured $15 million in funding from Japanese energy firm ENEOS Corporation. The funding is part of Zypp Electric's ongoing Series C round, which aims to raise a total of $50 million, split into $40 million in equity and $10 million in debt. This investment values Zypp Electric at approximately Rs 2,200 crore (close to $270 million). The funds will be used to expand Zypp Electric's operations in India and Southeast Asia. Other investors in the Series C round include 9Unicorns, IAN Fund, Venture Catalysts India, and WFC. Zypp Electric operates as an EV-as-a-service platform.
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Similar markets
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Expand to more Asian countries • 33%
Consolidate existing markets • 33%
Focus on integration without further expansion • 34%
Expands to other states • 33%
Expands internationally • 33%
Remains only in Texas • 34%