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<ul><li>Delhi-based Akash Gupta started with solving last mile commute issues with his startup <keyword id="6037551" type="PERSON" weightage="20" keywordseo="mobycy">Mobycy</keyword>.</li><li>In November 2019, Gupta along with his co-founders Shivraj Singh and Rashi Agarwal, made the switch from B2C (business to consumer) to B2B (business to business) and rebranded the company to Zypp.</li><li>Today, the company has partnered with clients like BigBasket, Spencer’s, Amazon, Flipkart, Licious, Myntra among others to serve their last mile deliveries.</li></ul>In August 2017, Delhi-based Akash Gupta, who had worked with companies like Airtel, Snapdeal and Mobikwik, knew he wanted to work towards solving the pollution crisis. His research brought him to the area of electric vehicles (EVs), where he could see two ways to go about it – solve last mile commutes or delivery. He started with solving last mile commute issues with his startup Mobycy. But two years later, Gupta realised that the Indian market wasn’t yet ready to adopt EVs completely and building the infrastructure would take time. “But last mile delivery was already happening, albeit on petrol and diesel vehicles,” he told Business Insider. In November 2019, Gupta along with his co-founders Shivraj Singh and Rashi Agarwal, made the switch from B2C (business to consumer) to B2B (business to business) and rebranded the company to Zypp. “When we started focusing on last mile delivery, we realised that profitability is a sooner path and the problem could be solved faster,” he said. Today, the company has partnered with clients like BigBasket, Spencer’s, Amazon, Flipkart, Licious, Myntra among others to serve their last mile deliveries through Zypp EVs and trained Zypp delivery executives. “I feel it has more potential because to shift the consumer to an EV, you need to have the infrastructure right which will take time. But with businesses, you can go national with them, as they will see there is a cost saving mechanism there,” he said. And the pivot worked well for Zypp, whose fleet size has grown four times in the last two years. “Frankly our revenue has grown eight times. We have onboarded more than 200 B2B customers and our vehicle utilisation has gone up from 60% to 85%. Demand is pretty sorted in the B2B market,” said Gupta. The startup had last raised funds in November 2019 – ₹15 crore from Indian Angel Network. And now the startup is back in the search for funds. While it’s present in Delhi NCR and Jaipur, the company now plans to soon expand to cities like Bengaluru, Hyderabad and Pune. SEE ALSO: <a href="https://www.businessinsider.in/science/health/article/if-you-are-feeling-anxious-and-overwhelmed-by-the-pandemic-and-the-news-around-it-here-are-a-few-ways-to-calm-yourself-down/articleshow/82494658.cms">If you are feeling anxious and overwhelmed by the pandemic and the news around it, here are a few ways to calm yourself down</a> <a href="https://www.businessinsider.in/business/corporates/news/good-news-for-tata-steel-jsw-steel-sail-hindalco-and-other-indian-steel-companies/articleshow/82451127.cms">China has broken another emissions record ⁠— and it is good news for some Indian companies</a>

It took one pivot and five years for this EV startup founder to hit the sweet spot for business in India

New Delhi, Nov 14 () Alia Bhatt-backed StyleCracker on Thursday said US-based investor AMJ Ventures has invested USD 2 million (about Rs 14 crore) into the company.
 The fashion-tech start-up will use the funds towards building out further capabilities in machine learning and in strengthening its moat on the personalisation front, StyleCracker co-founder and Managing Director Dhimaan Shah said in a statement.
 "The funds will also be used to build a strong pan-India presence...StyleCracker has grown rapidly since inception at a CAGR of over 150 per cent and is on track to grow the business over 250 per cent this financial year, after its funding from AMJ Ventures," he added.
 The rapid growth is complemented by healthy economics with the company turning profitable at a unit economic level, he said.
 AMJ has previously invested in Indian start-ups like Avail Finance and Propelld. 
**** 
* IAN Fund invests Rs 15 cr in Zypp
 IAN Fund on Thursday said it has invested Rs 15 crore in e-scooter micro-mobility start-up Zypp.
 IAN Fund led the pre series-A round with prominent IAN members also participating, a statement said.
 Based out of Gurugram, Zypp (earlier Mobycy) has a fleet of IoT-powered electric scooters that commuters can use to fulfill their daily micro-mobility needs within a range of 5 kilometers. Incorporated in August 2017, the company has over 50 employees. 
 "We will leverage the capital to scale by strengthening the fleet with 5,000 e-scooters within the next few months. We are also looking to expand our geographical footprint across NCR along with 5 other Indian cities, and then to South East Asia and Europe in the coming years," Zypp co-founder Rashi Agarwal said.
 Agarwal added that the company plans to have 20,000 scooters on the road by end of 2020.
**** 
* misters.in raises Rs 3.5 crore funding led by Sauce.vc, Rainforest Ventures and others 
 misters.in, a direct-to-customer men's health and wellness brand, on Thursday said it has raised Rs 3.5 crore as a part of its series B round of funding led by Sauce.vc, Rainforest Ventures and angel investors. 
 The company had raised Rs 2.54 crore in series A in August this year.
 "misters.in will utilise the capital raised to establish its strong footprint in the highly fragmented but massive men's health and wellness space, with a focus on high-quality products, science, and sensitivity," a statement said. SR RVK

AMJ Ventures invests USD 2 mn in Alia Bhatt-backed fashion-tech start-up StyleCracker

<ul><li><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> delivered 1.5 million food orders in March only on cycles. </li><li>The maximum delivery partners in cycles were in Bangalore followed by Mumbai. </li><li>Swiggy is also piloting delivery through EVs. </li></ul>Indian delivery <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> have been taking a turn towards “green” delivery by switching to <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> and cycles. <keyword id="3105315" type="PERSON" weightage="20" keywordseo="Foodtech">Foodtech</keyword> unicorn Swiggy introduced food delivery on cycles in 2017, and it seems to have finally taken off now. Swiggy reported that in March it delivered 1.5 million food orders on cycles. In tier 2 and 3 cities like Surat, Belgaum, Guwahati and Lucknow over 20% of Swiggy’s delivery partners use cycles for delivery. In India, 10,000 delivery partners use cycles, with maximum cyclists in Bangalore followed by Mumbai. “A couple of years back, we initiated concerted efforts to make millions of our deliveries more sustainable for the environment. With close to 10,000 delivery partners on cycles each day, we have found that in some of our cities, the average travel time for a delivery partner on cycles is even lesser than bikes or scooters,” said Srivats TS, VP, Marketing, Swiggy. Swiggy’s competitor Zomato too had introduced delivery through bicycles in February 2019. According to <a href="https://inc42.com/buzz/zomato-enrols-bicycles-e-bikes-for-delivery-in-12-cities/">reports</a>, Zomato had partnered with startups like Mobycy, Yulu, Zoomcar’s PEDL among others to start the delivery service. The next mile of delivery For delivery startups, fast innovation is defining their stand in the industry. Swiggy is piloting the use of Electric Vehicles for its deliveries in 10 cities. Last year, Swiggy’s delivery partners in cities like Delhi and Lucknow carried out deliveries on e-rickshaws. The company’s official statement said that the adoption of EVs will reduce the running cost by 40%. Going one step ahead, Zomato had earlier <a href="https://www.thehindu.com/business/Industry/zomato-acquires-drone-delivery-startup-techeagle/article25671762.ece">acquired</a> drone startup TechEagle innovations. With this, the startup is reportedly testing delivery via drones. Meanwhile, logistics startup DOT which offers last mile delivery through e-vehicles has been ramping up its business and is also looking at a <a href="https://www.thehindubusinessline.com/economy/logistics/logistics-startup-dot-eyes-rs-365-crore-revenue-in-fy20/article26356832.ece">revenue </a>of ₹360 crore by 2020. See Also: <a href="https://www.businessinsider.in/ubers-ipo-filing-in-the-us-cites-ola-zomato-and-swiggy-as-threats-to-its-india-business/articleshow/68882407.cms">Uber’s IPO filing in the US cites Ola, Zomato, and Swiggy as threats to its India business</a> <a href="https://www.businessinsider.in/from-swiggy-vs-bigbasket-to-paytm-vs-bookmyshow-indian-startups-are-growing-by-becoming-rivals/articleshow/68351389.cms">Do Swiggy, OYO, and Paytm lack Silicon Valley’s planning and conviction?</a>

Swiggy rides the green wave, delivers 1.5 million orders on cycles; electric vehicles are next

<ul><li>In conversation with Business Insider, Rohit Gothi, CEO, <keyword id="167885" type="COMPANY" weightage="20" keywordseo="Hero-Cycles">Hero Cycles</keyword> said the company is betting big on e-bikes.</li><li>Hero launched <keyword id="3883061" type="PERSON" weightage="20" keywordseo="Lectro">Lectro</keyword> – its electric bikes – in a pilot phase last year, it has also come up with an upgraded version Lectro+.</li></ul>India’s electric vehicle revolution is now powered by one of India’s biggest legacy companies – Hero Cycles. Cycles in India are synonymous with the brand Hero Cycles and now, the company has added to its portfolio – e-bikes. Having been in the business since 1956, the company finally made the move to e-bikes and the CEO of Hero Cycles Rohit Gothi believes that e-bikes will grow faster than electric cars or scooters in India. Hero has ambitious goals to have a significant share in the global cycles market. In India, the company had <a href="https://auto.economictimes.indiatimes.com/news/two-wheelers/scooters-mopeds/hero-cycles-posts-15-y-o-y-sales-growth-in-fy19/66606679">reported </a>a 15% year-on-year growth for FY19, having sold 31 million units. Hero launched Lectro – its electric bikes – in a pilot phase last year, it has also come up with an upgraded version Lectro+. Gothi said that the response has been encouraging and they have also started commercially selling the e-bikes. The multi-speed geared variant of the e-bike has been launched at a price of ₹26,999 while the gearless one will come at ₹18,999. “The best part about e-bikes is that from the cost of maintenance perspective they are fairly cheap, unlike other e-initiatives like car or scooter. They don’t need large scale charging infrastructure so we can really scale up soon,” said Gothi. Reports about Hero Cycles looking to expand its operations to Europe have also been doing the rounds. And Gothi said that it’s not just Europe but their vision is to move to the world. “In order to have a global presence, you need good manufacturing capabilities. We already have a company in Europe called Avocet and we are seriously contemplating various options in the US and UK,” he said. Another growing trend in India are bike rental startups with startups like Mobycy, Cykul (acquired by Dr Reddys). While bike rental has gained popularity, there have also been a few misses. Chinese bike rental startup Ofo which had made an India entry had to withdraw its business from the country. “We have a sister company – Hexi – which is in the public bicycle sharing space. We have 4,000 cycles running on the road and campuses specifically Punjab Agriculture University. We have our hands on everything and anything that is related to micro mobility,” said Gothi. See Also: <a href="https://www.businessinsider.in/ces-2019-munjal-grandson-from-the-hero-family-is-selling-ai-devices/articleshow/67469653.cms">The grandson of India’s most famous ‘bicycle maker’ is selling AI at CES 2019</a>

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It took one pivot and five years for this EV startup founder to hit the sweet spot for business in India

Sanchita Dash

AMJ Ventures invests USD 2 mn in Alia Bhatt-backed fashion-tech start-up StyleCracker

PTI

Swiggy rides the green wave, delivers 1.5 million orders on cycles; electric vehicles are next

Sanchita Dash

INTERVIEW: One of India's oldest bicycle makers wants to make electric bikes for the world

Sanchita Dash

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