Zypp Electric fell short of its FY26 revenue target ofRs 600 crore, with the B2B delivery and shared mobility startup posting Rs 461 crore in revenue during the year. The company had earlier indicated that it was targeting Rs 600 crore in revenue for FY26, but ended the year with a modest 5% year-on-year growth. Zypp’s revenue from operations increased modestly to Rs 461 crore in FY26 from Rs 438 crore in FY25, according to its consolidated financial statements sourced from the Registrar of Companies (RoC). Zypp Electric is an EV-as-a-service platform that offers electric vehicle rentals and delivery services through its e-scooter fleet for gig workers. Revenue from delivery services accounted for around 60% of its operating revenue and remained largely flat at Rs 322 crore in FY26. Meanwhile, income from vehicle rentals grew 24% to Rs 138 crore. The company also earned Rs 15 crore from interest income, taking its total income to Rs 476 crore in FY26. With growth remaining modest, Zypp’s rider expenses declined 5.6% to Rs 335 crore in FY26, while employee benefit expenses fell to Rs 64 crore. Rental, battery-swapping and other overhead costs took its total expenditure to Rs 535 crore during the fiscal year. With modest revenue growth and tighter cost controls, the company managed to cut its loss by 44% to Rs 60 crore in FY26 from Rs 107 crore in FY25. Notably, Zypp Electric had accumulated losses of Rs 320 crore as of March 2026. During FY26, its return on capital employed (ROCE) stood at -41.33%, while its EBITDA margin improved to -2.82%. On a unit-economics level, the company spent Rs 1.16 to earn every rupee of revenue. Zypp Electric has raised around $76.5 million in funding to date, with ENEOS Group as its lead investor. Last year, the Gurugram-based company raised$6.5 millionfrom 16 investors as part of its ongoing Series C funding round. Its competitor, Yulu, recently raised a$93 millionSeries C round led by GEF Capital. The company postedRs 237 crorein revenue in FY25, along with a loss of Rs 126 crore. Yulu is yet to file its annual results for FY26. Bareback Media has recently raised funding from a group of investors. Some of the investors may directly or indirectly be involved in a competing business or might be associated with other companies we might write about. This shall, however, not influence our reporting or coverage in any manner whatsoever. You may find a list of our investorshere.
