Zypp Electric, a platform that lends its electric vehicle fleet to different businesses for last-mile connectivity, has achieved a revenue figure that is 500 times last year's numbers. The company's revenue was Rs 125 crore. Its gross margins were 35 percent last year. The Gurgaon-based company was founded by Akash Gupta and his wife Rashi Agarwal. They also have a third co-founder -- Tushar Mehta.
The company was founded in 2017 as a bicycle rental platform. The next year, they launched their rental service for e-scooters. The second business picked off. They later realised that providing them with an executive along with the bike as a rental service makes more sense than selling them the two-wheeler. The company now has over 12000 e-bikes in operation. They have also started to invest in Bengaluru.They have invested around 25 crore in the city.
It has raised a total of 37.5 million dollars. Their valuation is not known as of now.
Rashi Agarwal is the CBO of the company. She is a serial entrepreneur. She is also an angel investor. She did MBA from IIM, Kozhikode. She was a gold medalist in her graduation. She was also a state-level table tennis champion when she used to live in Almora.
Rashi was born in Almora. Growing up, she always wanted to be a businesswoman. Her father had a hotel and a cloth wholesale business. She didn't join her father's business.
As a commerce graduate, she started working at the age of 22 for S&P Capital IQ’s corporate bullpen. Seven years after that, she founded her fashion venture called LetsFlaunt. Their business was profitable from the get-go. However, they thought it wasn't enough. When they quit the business, their turnover was Rs 1 crore.
She is married to Gupta.
In 2017, they founded Zypp. The company is now growing leaps and bounds.
They have clients like Zepto, Ola, Dash, Grab, Uber, Amazon, Flipkart, Myntra, Delhivery etc.
They have a team of over 700 people.
She was also the head girl at school.
She describes herself as a hustler, a fighter, an optimist and a go-getter.
Not joining her father's business and closing down the fasion portals were life-changing decisions.
