In cost-cutting efforts, electric scooter rental start-up Zypp Electric has laid off 150 employees, according to a report published by Mint. The layoff drill started in February this year and it’s still going on. In addition, the Gurugram-based start-up has also introduced pay cuts related to three-day targets.
The budget trimming measures came after Zypp raised about Rs 55 crore in funds. Currently, the start-up is valued at about $322 million after it raised a total funding of about $80 million from various investors, including Anthill Ventures and Venture Catalysts. The Economic Times had earlier reported that Zypp has also started discussions to raise $25-30 million from Nuvama Wealth along with other investors.
Speaking about layoffs, Zypp spokesperson told Mint that the job cuts are about “building scalable, high-performing team” to boost the start-up’s growth and expand into new markets across the country. With this, Zypp’s workforce has “naturally” adjusted to 1,150 from 1,300 employees, the report added.
1 December 2025
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The EV sector is showing signs of strain as Ola Electric has reportedly laid off over a thousand employees across departments like fulfillment, procurement, charging infrastructure, and customer relations, amid mounting losses and growing competition.
Zypp-Indofast Partnership
In February, the electric mobility player announced its plans to deploy one lakh electric two-wheelers in collaboration with Indofast Energy, a 50-50 joint venture between Indian Oil and SUN Mobility over the next 12-18 months. It has already deployed over 10,000 EVs supported by Indofast Energy’s battery-swapping infrastructure.
The new fleet of 1 lakh electric two-wheelers (E2Ws) will be deployed across India's top eight cities, including Delhi-NCR, Mumbai, Bengaluru, Hyderabad, Pune, Lucknow and Jaipur, enhancing efficiency for delivery partners and enterprises. With Indofast Energy's battery swapping network, riders will gain unlimited range and near-zero downtime.
In Delhi NCR and Bengaluru, Indofast Energy has an extensive network of swap stations every 1.5 kms, ensuring seamless and hassle-free battery access.
Zypp Electric, founded by Akash Gupta and Rashi Agrawal in 2017, is a last-mile delivery start-up that provides electric vehicle fleets and battery-swapping solutions for companies in logistics, and e-commerce sector.
