Delta Corp Holdings led the Pre-Series A investment round for the 2020-born startup, which aims to deploy over 3,000 logistics EVs across India by year-end
Zyngo EV Mobility Pvt. Ltd, a Gurugram-based tech-enabled third-party logistics service provider, recently raised $5 million in Pre-Series A funding led by Delta Corp Holdings. Existing investors including LC Nueva Investment Partners LLP participated in the fund round. As per the company, the freshly-raised funds will be used to boost its fleet size, while also expanding to new geographies and enhancing its technology.
On the investment, the CEO and Founder of Zyngo, Prateek Rao remarked, “We founded Zyngo with a vision to champion the cause of clean mobility solutions in the logistics sector which has traditionally been dominated by large polluting trucks and vans. Our efforts to deploy cutting-edge technology and electric vehicles for last-mile delivery have already garnered an overwhelming response from our customers. With this latest investment, we are excited to accelerate our growth and expand our reach, while staying true to our commitment to provide eco-friendly and affordable logistics solutions. We are thrilled with the further validation of our business model from our existing and new investors. We look forward to creating a greener tomorrow together.”
Excited to support Zyngo and extend Delta Corp’s footprint in last-mile logistics in the EV space, the CEO & Founder of Delta Corp, Mudit Paliwal commented, “What better place than India with its large population and growth potential. We have identified some of the key infrastructural barriers towards mass adoption and are now actively addressing each obstacle through targeted investments. These range from empowering drivers, and financing vehicles to creating EV infrastructure hubs, our goal is to create a comprehensive EV ecosystem that will accelerate the adoption of EVs throughout India particularly in logistics.”
Paliwal expressed his confidence in Zyngo’s passion and strategic approach to revolutionising the future of last-mile logistics.
With the mission to provide sustainable and innovative logistics solutions and the vision to become the largest last mile and hyperlocal company in India, Zyngo forges collaborations to bring transition in the e-commerce & e-grocery industry by switching their delivery vehicles from ICE vehicles to electric vehicles by maintaining the same level of logistics standards and productivity. The company is planning to launch a first-of-its-kind hyperlocal B2C delivery mobile app to ensure the efficient utilization of the fleet.