Zypp Electric just handed out ₹11 crore worth of ESOPs to 250 staff, giving technicians and sales crews a slice of the company’s future.
The move follows a 71% jump in usable fleet to 30,000 vehicles last quarter, and the firm is targeting a three‑fold jump to 100,000 units across 20 cities by FY28.
Revenue up 88% YoY, EBITDA margin swung from a loss of 4% to a healthy 10% in Q1 FY27, and the company says the margin is now 17%.
Rivals like OYO and UberEats are still building their own delivery fleets, but Zypp’s focus on two‑ and three‑wheelers gives it a first‑mover edge in dense urban corridors.
With the Indian government pushing EV adoption in logistics and offering incentives for last‑mile operators, a larger fleet means more jobs and lower per‑delivery costs.
The company plans to roll out its expanded fleet over the next 18 months, with new hubs opening in Delhi, Mumbai, and Bengaluru, and investors are watching its IPO prep.