Zyngo EV Mobility Pvt. Ltd., a Gurugram-based tech-enabled third-party logistics service provider, has raised $5 Million in Pre-Series to be used towards increasing fleet size, expanding to new geographies and to enhance technology. The funding was led by Delta Corp Holdings (“Delta Corp”) with participation from existing investors LC Nueva Investment Partners LLP.
Zyngo, offers last-mile delivery solutions through a fleet of electric vehicles. The company caters to B2B and B2C consumers, focusing on intra-city logistics to meet daily logistics and transportation needs. Zyngo runs on a unique ‘asset-light model’ and acts as an intermediary between the supply and demand in the market while taking care of the operations and management of the EV fleets end to end. Zyngo aggregates demand from various e-commerce companies, SMEs, FMCG players, cloud kitchens and other channels and aggregates supply directly from OEMs and DCOs.
Zyngo has made significant contributions in the EV Logistics industry, specifically in Last Mile Delivery (LMD) and Hyperlocal sectors. The company has played a key role in reducing carbon footprint by replacing ICE vehicles with EV technology, targeting LMD trucks and has brought down delivery costs by up to 35 per cent. Zyngo's in-house Fleet Management Software (FMS) has enabled transparency in its operations, addressing customer confidence and product reliability issues faced by many e-commerce companies.
Prateek Rao, CEO and Founder, Zyngo, said, "We founded Zyngo with a vision to champion the cause of clean mobility solutions in the logistics sector which has traditionally been dominated by large polluting trucks and vans. Our efforts to deploy cutting-edge technology and electric vehicles for last-mile delivery have already garnered an overwhelming response from our customers. With this latest investment, we are excited to accelerate our growth and expand our reach, while staying true to our commitment to provide eco-friendly and affordable logistics solutions."
Mudit Paliwal, the CEO and Founder of Delta Corp - “We are very excited to support Zyngo and extend our footprint in last-mile logistics in the EV space. What better place than India with its large population and growth potential. We have identified some of the key infrastructural barriers towards mass adoption and are now actively addressing each obstacle through targeted investments. These range from empowering drivers, financing vehicles to creating EV infrastructure hubs, our goal is to create a comprehensive EV ecosystem that will accelerate adoption of EVs throughout India particularly in logistics.”
Currently, Zyngo does approximately 3 lakh deliveries per month with a fleet size of 1150+ vehicles - including both 2W and 3W EVs - all of them powered by lithium-ion batteries. These vehicles (cargo e-loaders) are sourced or leased by Zyngo from top OEMs such as Hero Electric, Piaggio, Kinetic Green, Mahindra Electric, among others.