Zyp Technologies has raised US$ 1.5mn in Series Pre-A funding led by Shorooq Partners to enable a city-wide launch of Zyp’s electric smart mobility technologies in Lahore, Pakistan, marking a pivotal step towards meeting the nation’s ambitious environmental goals.
Existing investor Indus Valley Capital doubled down in this round and was joined by several angel investors.
With this investment, Zyp will create over 60 battery swap stations and deploy 1000 of its Zyp Utility Motorcycles (ZUM 2000) in the next 12 months. The smart motorcycles have fleet management software capabilities that include accident alerts, anti-theft features, and location tracking.
“This pivotal investment accelerates Pakistan towards achieving its electric vehicle ambitions by 2030. Zyp is removing the barrier of affordability from high-quality electric vehicles, which are designed specifically for Pakistan’s extreme temperatures and bumpy roads,” commented Hassan Khan, Co-founder and CEO, Zyp Technologies.
Environmental / economic benefits
“Our investment in Zyp Technologies will drive significant environmental and economic benefits for Pakistan in the long term by addressing some of the challenges that delivery companies and the mobility industry typically face,” remarked Omer Zabit, Principal at Shorooq Partners,
To continue playing a key role in Pakistan’s sustainability movement, Zyp has established an assembly line capable of producing up to 12,000 electric motorcycles per year.
Zyp Technologies is Pakistan’s first indigenous electric two-wheeler mobility company and specializes in electric motorcycles designed for deliveries, equipped with advanced fleet management software.
