Zypp Electric’s Scale Grows 4.5X During FY22

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It seems that Zypp Electric, a B2B delivery and shared mobility startup, did not meet its revenue target for FY22, falling short of breaching the Rs 25 crore mark with a recorded revenue of around Rs 21 crore. However, the company’s revenue from operations increased by 4.5 times to Rs 21.47 crore in FY22 from Rs 4.76 crore in FY21. The company collected most of its operating income from delivery services, with the rest coming from vehicle rent and the sale of products. Its total expenditure surged 3.3 times to Rs 37.65 crore in FY22, while its annual losses jumped over two-folds to Rs 15.3 crore in FY22 from Rs 6.81 crore in FY21. Zypp Electric has raised a total of $37.5 million to date and has partnered with Gogoro to accelerate last-mile deliveries in India.

The company also incurred Rs 1.19 crore, Rs 82 lakh and Rs 77 lakh on rent, legal and promotional expenses, respectively, during FY22. On a unit level, the company spent Rs 1.75 to earn a rupee of operating income during the year. The information states that Zypp Electric incurred Rs 1.19 crore, Rs 82 lakh and Rs 77 lakh on rent, legal and promotional expenses, respectively, during FY22. It also mentions that on a unit level, the company spent Rs 1.75 to earn a rupee of operating income during the year. This means that for every one rupee earned as operating income, Zypp Electric spent Rs 1.75 to generate that revenue. This indicates that the company’s expenses were high in relation to its revenue, which could be a concern for its profitability.