Electric vehicle-as-a-service platform Zypp Electric has raised $15 million (₹125 core) funding from Japanese energy firm Eneos Corporation.

The Series C funding is part of Zypp’s ongoing $50 million round, which comprises $40 million in equity and $10 million in debt, the company said in a statement.

Existing investors such as 9unicorns, IAN Fund, venture catalysts, WFC, and others participated in the funding round. 

Zypp said it plans to use the funds to expand its fleet to 200,000 electric-scooters and extend its services to 15 cities across India by 2026.

Akash Gupta, co-founder and the chief executive of Zypp Electric, said the fresh investment will help the company in the last-mile delivery space with sustainable EV solutions, Press Trust of India reported.

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