Delta Corp Holdings led a $5 million pre-Series A fundraising round for Gurugram-based third-party logistics service Zyngo Mobility. A fleet of electric vehicles (EVs), including both two-wheelers and three-wheelers, is used by the startup, which was established by Prateek Rao in January 2020, to provide economical and environmentally friendly last-mile delivery options. To aid India’s efforts to combat climate change and achieve sustainability, Zyngo plans to distribute at least 18,000 zero-emission electric vehicles (EVs) across the nation by 2025.
The startup plans to use the capital to increase its fleet size, expand to new geographies, and enhance its technology. “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,” said Prateek Rao, CEO and Founder, Zyngo.
Zyngo Mobility serves both B2B and B2C consumers, focusing on intra-city logistics to fulfil their daily logistics and transportation needs. The company claims to have a fleet size of over 1,150 EVs and does three lakh deliveries per month. These cargo e-loaders are sourced or leased by Zyngo from OEMs, including Hero Electric, Piaggio, Kinetic Green, and Mahindra Electric.
Zyngo mobility eyes new markets
“With their passion and strategic approach, I am confident that Zyngo Mobility is well-positioned to revolutionise the future of last-mile logistics. We are excited to support them in their next phase of growth,” said Mudit Paliwal, CEO and Founder of Delta Corp.
Zyngo Mobility also plans to launch a hyperlocal B2C delivery mobile app to ensure efficient utilisation of the fleet. Customers will be able to access it through an easy-to-use, robust tech platform on both iOS and Android devices. The startup intends to expand its services to emerging segments such as foodtech, ecommerce, and e-grocery deliveries.
The company’s commitment to sustainability and eco-friendliness is commendable, and it aligns with the Indian government’s vision of promoting clean energy and sustainable transportation. As stated by Prateek Rao, “Our aim is to create a sustainable future and offer customers a cost-effective and greener alternative to traditional logistics solutions.”