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NDTV
9 hours ago
- Business
- NDTV
India Becoming Powerful Player In Science And Tech: UK Minister
London: The UK must harness scientific and academic relationships with India as it becomes an increasingly powerful player in the science and technology space, Britain's minister for science, research and innovation has said. During a session on 'Unlocking UK-India Collaboration for a New Era of Innovation' at India Global Forum's Future Frontiers Forum at the Science Museum in London on Thursday, Lord Patrick Vallance called for greater mobility of high-skilled professionals through the Global Talent Visa and the need to tap into complementary skills across all sectors. The minister revealed the UK government's much-anticipated Industrial Strategy would be released in a few weeks, forming the blueprint for focus areas for such a partnership with India. "There is already a strong relationship between India and the UK, and I think it's growing," said Vallance. "But government-to-government relationships on science aren't actually what drives everything. It has to be a scientist and a scientist as well. There are important academic links. I'd like to see more of that as India becomes an increasingly powerful player in the science and tech space," he said. The forum was addressed by Commerce and Industry Minister Piyush Goyal earlier on the sector-wide benefits of the Free Trade Agreement (FTA) struck between the two countries, as it "adds value to science and technology and innovation". "A Free Trade Agreement demonstrates to the world that the two countries are friends, allies, and plan to work together closely; they trust each other," said Goyal. Vallance concurred and highlighted: "India has its focus areas, we have ours, now we need to create opportunities across those sectors." Lord Ara Darzi, the British surgeon behind a seminal review of the National Health Service (NHS) and much-needed areas of reform, hailed India's "transformative health solutions" as the "intellectual and production power" the UK must collaborate with. The forum also included a 'Pitchers and Punters' curated showcase of Indian start-ups pitching to a jury of international investors. Among the standout companies were Zypp Electric, Lina Energy, Steamology Motion Ltd and Electric Miles - with Zypp Electric winning this year's Clean Tech Award presented by British renewable energy group Octopus Energy.
Time of India
12 hours ago
- Business
- Time of India
India emerging as major science and tech force, says UK minister at London innovation forum
The UK must harness scientific and academic relationships with India as it becomes an increasingly powerful player in the science and technology space, Britain's minister for science, research and innovation has said. During a session on 'Unlocking UK-India Collaboration for a New Era of Innovation' at India Global Forum's Future Frontiers Forum at the Science Museum in London on Thursday, Lord Patrick Vallance called for greater mobility of high-skilled professionals through the Global Talent Visa and the need to tap into complementary skills across all sectors. The minister revealed the UK government's much-anticipated Industrial Strategy would be released in a few weeks, forming the blueprint for focus areas for such a partnership with India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Top 25 Most Beautiful Women In The World Articles Vally Undo "There is already a strong relationship between India and the UK, and I think it's growing," said Vallance. "But government-to-government relationships on science aren't actually what drives everything. It has to be a scientist and a scientist as well. There are important academic links. I'd like to see more of that as India becomes an increasingly powerful player in the science and tech space," he said. Live Events The forum was addressed by Commerce and Industry Minister Piyush Goyal earlier on the sector-wide benefits of the Free Trade Agreement (FTA) struck between the two countries, as it "adds value to science and technology and innovation". "A Free Trade Agreement demonstrates to the world that the two countries are friends, allies, and plan to work together closely; they trust each other," said Goyal. Vallance concurred and highlighted: "India has its focus areas, we have ours, now we need to create opportunities across those sectors." Lord Ara Darzi, the British surgeon behind a seminal review of the National Health Service (NHS) and much-needed areas of reform, hailed India's "transformative health solutions" as the "intellectual and production power" the UK must collaborate with. The forum also included a 'Pitchers and Punters' curated showcase of Indian start-ups pitching to a jury of international investors. Among the standout companies were Zypp Electric, Lina Energy, Steamology Motion Ltd and Electric Miles - with Zypp Electric winning this year's Clean Tech Award presented by British renewable energy group Octopus Energy.
The Print
28-04-2025
- Automotive
- The Print
Zypp Electric closes FY'25 at Rs455 crore, reports 50% revenue growth
This fiscal year, Zypp Electric demonstrated substantial growth, crossing the 100 million deliveries mark since its inception. Notably, quick commerce accounted for 47 per cent of these deliveries, up from 30 per cent in FY'24, highlighting the company's expanding role in eco-friendly logistics solutions. Gurugram (Haryana) [India], April 28 (ANI): Zypp Electric has witnessed a robust financial performance for the fiscal year 2024-25, recording a significant ~50 per cent growth in revenue, which surged from Rs302 crore in FY'24 to ~Rs455 crore in FY'25, further strengthening its position in the rapidly growing electric mobility and last-mile logistics space. Clients have responded with consistently positive feedback, especially appreciating Zypp Electric's strong and reliable delivery supply chain. In turn, the platform empowered over 1.2 lakh gig delivery partners to boost their earnings via a daily rental EV tech platform equipped with swapping & technician services. Zypp's fleet operations witnessed significant growth across key cities — Delhi NCR saw a 16 per cent increase, expanding to over 12,000 vehicles; Bangalore achieved a 31 per cent surge, now operating more than 5,000 vehicles; and in Mumbai, operations launched in FY'25 have already scaled to an active fleet of 2,400 vehicles. The company also scaled up its 3-wheeler business and crossed 900 3W EVs in the wheeler space, catering to last-mile logistics via the driver rentals business. In this process, Zypp Electric has completed its 100 million deliveries since the launch of its delivery segment and has reduced 45 million kg of carbon emissions. In FY '25, Zypp Electric made strategic strides in technology, operations, and expansion. The company streamlined its standard operating procedures, strengthened its technology stack, and built a scalable, future-ready team, laying a strong foundation for efficient growth and long-term sustainability. Further advancing its tech-led offerings, Zypp Electric introduced a SaaS platform, an end-to-end software solution for fleet acquisition, management, and fleet-wise P&L tracking. It focused on enhancing the delivery partner experience, reducing downtime, and maximising fleet utilisation, further contributing to operational excellence. They also introduced Zypp Advertising Services, enabling brands to advertise on their vehicles and rider accessories. These innovations open new revenue streams and further position Zypp Electric as a comprehensive EV services provider. Meanwhile, FY'25 was instrumental in Zypp Electric to deepen its ecosystem collaborations, partnering closely with EV OEMs, battery-swapping companies, and fintech leasing providers. These alliances have proven crucial in ensuring a steady supply of high-quality electric vehicles, providing cost-effective leasing options, and improving fleet uptime through robust swapping infrastructure. The synergy created by these partnerships has enabled Zypp Electric to scale rapidly while maintaining service quality. Entered into strategic collaborations with EV OEMs & Battery swapping businesses to cater to a larger expansion plan in FY'26. Akash Gupta, Co-Founder and CEO of Zypp Electric, said, 'FY25 has been a landmark year for us. We've not focused much on growth but rather laid down the groundwork for a sustainable and profitable EV business. We continue to focus on market leadership from the existing 3 markets to more markets in the coming FY'26 while keeping a strong eye on profitability.' He added, 'We continue to ride the EV & Quick commerce tailwind & enable thousands of delivery partners to upgrade from ICE vehicles to EV vehicles on an easy rental plan without any high downpayment & EMI hassle backed with maintenance & charging/swapping services on their fingertips which enable them to save Rs 5-6k extra over a petrol vehicle via Zypp Electric rental platform.' To support the growing ecosystem, Zypp Electric also initiated a pilot training program for skilled mechanics and technicians in EV maintenance and repair, aligning with its commitment to building a sustainable and self-reliant EV infrastructure in India. (ANI) This report is auto-generated from ANI news service. ThePrint holds no responsibility for its content.
Time of India
28-04-2025
- Automotive
- Time of India
Zypp Electric posts Rs 455 crore revenue in FY25, up 50% YoY
Electric vehicle (EV) fleet management firm Zypp Electric said it has witnessed a 50% rise in revenue to Rs 455 crore for the fiscal year ended March 2025, driven by expansion across key cities and growth in the quick commerce segment. #Pahalgam Terrorist Attack India stares at a 'water bomb' threat as it freezes Indus Treaty India readies short, mid & long-term Indus River plans Shehbaz Sharif calls India's stand "worn-out narrative" The Gurugram-based company, which focused on streamlining technology, improving vehicle quality, and standardising operations over the past year, is targeting earnings before interest, taxes, depreciation and amortisation (Ebitda) breakeven within the next one to two quarters, according to a statement. In FY25, Zypp crossed 100 million deliveries since inception, with quick commerce accounting for 47% of total deliveries, up from 30% in the previous year. The platform said it enabled over 1.2 lakh gig delivery partners to boost their earnings through its daily rental EV platform, equipped with battery swapping and technician services. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like She lives in the Loneliest house in the World - Don't judge until you see the inside! Tips and Tricks Undo 'FY25 has been a landmark year for us. We've not focused much on growth but rather laid down the groundwork for a sustainable and profitable EV business. While revenue grew from Rs 302 crore to Rs 455 crore (pre-audited), I see a much clearer line of sight of Ebitda profitability over the next one to two quarters, looking at several interventions done in FY25 for tech, team, partnerships and pushing sustainable growth levers,' said Akash Gupta, cofounder and CEO of Zypp Electric. The company said its fleet operations also grew across key cities. In Delhi NCR, its fleet expanded by 16% to over 12,000 vehicles, while in Bengaluru, it grew 31% to more than 5,000 vehicles. In Mumbai, where it launched operations in FY25, the active fleet has scaled to 2,400 vehicles. Live Events Zypp also scaled its three-wheeler business, crossing 900 EVs catering to last-mile logistics through its driver rental model. Discover the stories of your interest Blockchain 5 Stories Cyber-safety 7 Stories Fintech 9 Stories E-comm 9 Stories ML 8 Stories Edtech 6 Stories As part of its push towards profitability, Zypp Electric cut its workforce by around 10% as the company is working towards profitability ahead of a potential public listing within the next two years, Gupta had earlier told ET. Founded in 2017 by Gupta, Rashi Agarwal, and Tushar Mehta, Zypp Electric works with companies such as Swiggy , Zomato , and Zepto, providing delivery riders and electric two-wheelers. In January, ET reported that Zypp Electric was in advanced talks to raise $25-30 million, led by asset management firm Nuvama Wealth, as part of an ongoing funding round. Silicon Valley investor Tribe Capital is also participating, as ET reported in April 2024. The following month, Zypp raised $15 million from Japanese energy firm Eneos, valuing the company at approximately $280-290 million.
Time of India
28-04-2025
- Automotive
- Time of India
Zypp Electric revenue up 50% to ₹455 crore in FY25
Zypp Electric reported revenue of approximately ₹455 crore for the financial year 2024-25, marking a 50 per cent increase from ₹302 crore in FY24. The electric mobility and last-mile logistics platform said it expects to achieve EBITDA profitability within the next one to two quarters. During the year, Zypp Electric completed 100 million deliveries, with quick commerce contributing 47% of the deliveries, up from 30% in FY24. The company said it saved 45 million kg of carbon emissions through its operations. It also expanded its fleet, with Delhi NCR growing 16% to over 12,000 vehicles, Bangalore increasing 31% to more than 5,000 vehicles, and Mumbai operations launching with 2,400 active vehicles. Zypp's 3-wheeler business crossed a fleet size of 900 EVs, supporting last-mile logistics through driver rentals. The company said it focused on streamlining its technology stack, standard operating procedures and team structure during the year. It introduced a new software platform for fleet acquisition, management, and P&L tracking, as well as Zypp Advertising Services to allow brands to advertise on vehicles and rider accessories. Partnerships and future plans In FY25, Zypp Electric strengthened its partnerships with EV original equipment manufacturers (OEMs), battery-swapping firms, and fintech leasing providers. The company said these collaborations helped improve vehicle supply, offer cost-effective leasing, and enhance fleet uptime. Akash Gupta , Co-Founder and CEO of Zypp Electric, said, 'FY25 has been a landmark year for us. We've not focused much on growth but rather laid down the groundwork for a sustainable and profitable EV business. While revenue grew from ₹302 crore to ₹455 crore (pre-audited), I see a much clearer line of sight of EBITDA profitability over the next 1-2 quarters, looking at several interventions done in FY'25 for tech, team, partnerships & pushing sustainable growth levers." "We continue to focus on market leadership from the existing 3 markets to more markets in the coming FY'26 while keeping a strong eye on profitability. We continue to ride the EV & Quick commerce tailwind & enable thousands of delivery partners to upgrade from ICE vehicles to EV vehicles on an easy rental plan without any high downpayment & EMI hassle backed with maintenance & charging/swapping services on their fingertips which enable them to save ₹5-6k extra over a petrol vehicle via Zypp Electric rental platform,' he added. The company also launched a pilot training programme for EV mechanics and technicians as part of its efforts to strengthen the supporting ecosystem. Zypp Electric said higher fleet utilisation, expanding revenue verticals, and cost optimisation efforts have placed it on course for achieving EBITDA breakeven in the near term.
