13 April 2024 – According to two individuals with knowledge of the matter, Zypp Electric, a business that oversees fleets of electric vehicles for delivery services and bike taxi operators, is in discussions to earn $40 million in a new investment round headed by Silicon Valley-based fund Tribe Capital.
According to these sources, the Gurugram-based firm is worth between $300 and 350 million.
This is almost twice as much as its previous estimate of between $165 and $170 million, which was based on a $25 million loan and equity fundraising effort in February 2023 spearheaded by Gogoro, a major battery swapping company in Taiwan.
Conclusion
Additionally, messages submitted to the CEO and co-founder of Zypp Electric, Akash Gupta, still needed to be answered. Tribe Capital’s wagers on India Tribe Capital, a significant backer of unicorn e-commerce company Shiprocket, is about to launch its $250 million India fund. It will be established as a New Delhi-domiciled alternative investment fund (AIF).
