New Delhi, 10, October 2023 – IAN Fund I announced partial divestment from Zypp, which provided 6.5 times return with an IRR of 88%. The Fund has retained the major part of its shareholding to ride its success.
Zypp is an electric mobility company, focused on last mile delivery and mobility. The company provides tech enabled shared electric mobility platform for delivery and mobility in an affordable and sustainable way. The founders of Zypp- Akash, Rashi, and Tushar, represent one of the early companies that focus on ESG. They partner with large delivery and ecommerce companies across the country.
Akash Gupta, Co-founder & CEO of Zypp Electric, said, “Startups are here to return value to investors and this was a small milestone well achieved. IAN fund has been providing continued support right from the time when they invested in Zypp just before Covid-19. We continue to believe & work closely with IAN team as we scale Zypp to newer heights. The Mission Zero Emission has just started with 16k EVs and we plan to grow this to 200k+ EV fleet over next 3 years to electrify last mile delivery across India & beyond.”
Said Padmaja Ruparel, Co-Founder IAN & Founding Partner, IAN Fund I, “These are exciting companies, which have exhibited impressive growth but are poised to scale even faster and have yet to realise their full potential. IAN Fund 1 therefore remains majorly invested in them and hopes to give even better returns to its investors “
IAN Group remains steadfast in its commitment to delivering exceptional exits and returns from seed and early-stage companies. This latest achievement adds another shining accolade to its track record. Saurabh Srivastava, Co-Founder of IAN, emphasized, “Founders with innovative solutions to address real-world challenges will always be our top priority, and we look forward to continuing to create success stories like this.”
