Grip Invest Raises $8,00,000 for Zypp Electric

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  • Zypp Electric, which serves as a last-mile delivery platform, has been leasing electric vehicles from Grip since June 2020
  • Grip Invest plans to help Zypp in reducing capex costs and focus on enhancing its network
partnership
Pic Source – Wallpaper Flare

Grip Invest has raised $8,00,000 (approximately Rs 6 crore) for Zypp Electric, which will help the electric vehicle logistics firm to scale up its fleet to 2,000 e-bikes as per a release.Zypp Electric, which serves as a last-mile delivery platform, has been leasing electric vehicles from Grip since June 2020.

It has facilitated leasing of assets worth more than Rs 100 crore so far and enabled over 40 companies to access a different source of growth capital. Grip Invest plans to help Zypp in reducing capex costs and focus on enhancing its network, it said.

Nikhil Aggarwal, Founder – CEO, Grip Invest said that this decade for EV adoption and they are excited to already be working with 15 companies such as Zypp to lease electric vehicles and charging infrastructure.The funds raised have been used to lease close to 750 e-two-wheelers to the e-mobility startup to scale up its fleet to 2,000 e-bikes within 18 months, the release said.

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