Zypp Electric, an EV-as-a-service platform, has announced some great numbers. They saw a 50% jump in income for FY25, hitting over ₹400 crore. Reports from the Registrar of Companies show their income went up to ₹438 crore in FY25 from ₹293 crore in FY24.
Zypp Electric mainly works as a B2B company, offering electric vehicle rentals and delivery services to gig workers. While they’re not usually compared to your typical D2C food, beauty, or skincare brands, they’re becoming more relevant in the D2C world. This is because they power the last-mile logistics for D2C brands.
Delivery services made up 74% of Zypp Electric’s income, growing 56% to ₹323 crore in FY25. Renting vehicles brought in ₹111 crore, a 32% increase from ₹84 crore in FY24. They also made ₹11 crore from interest, bringing their total income to ₹449 crore for the year.
About 64% of their spending went to production, transportation, and rider costs, which rose 49% to ₹355 crore in FY25. Spending on employees rose 43% to ₹67 crore, and depreciation was at ₹38.5 crore. Overall, total spending went up 42% to ₹556 crore in FY25.
Even with the income growth, Zypp Electric reported a loss of ₹107.5 crore in FY25, which is more than the ₹89.5 crore loss in FY24. To earn a rupee in FY25, the company spent ₹1.27. Still, they have ₹72.5 crore in cash and bank balances and ₹174.5 crore in current assets.
So far, Zypp Electric has raised about $76.5 million, with ENEOS Group as the main investor. The company is currently raising ₹55.4 crore (about $6.5 million) from 16 investors as part of its Series C funding.
Yulu, a competitor, saw a 98% rise in income, reaching ₹237.4 crore in FY25. They also cut their losses by 12% to ₹126 crore from ₹142.8 crore in FY24.
Zypp Electric’s FY25 numbers show how important these infrastructure-focused platforms are to D2C growth. As sustainability and electrification become more important, Zypp’s expansion highlights how the D2C business is growing beyond just normal consumer categories.
