Gurugram-based EV Logistics Firm Zyngo Raises $5 Million Funding 

Zyngo EV Mobility Private Ltd, a Gurugram-based tech-enabled third-party logistics service provider, has now raised USD five million in a ‘pre-series A’ funding led by Delta Corp Holdings (Delta Corp). It was in addition to the participation from existing investors like LC Nueva Investment Partners LLP. The company said these funds would be used to increase its fleet size, expand to new geographies, and enhance technology. 

Prateek Rao, CEO, and Founder, Zyngo, said that the company’s efforts to deploy cutting-edge technology and electric vehicles for last-mile delivery have already garnered an overwhelming response from 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. In addition, we are thrilled with the further validation of our business model from our existing and new investors.

We look forward to creating a greener tomorrow together.”

Mudit Paliwal, the CEO & Founder of Delta Corp, said that he supported Zyngo to allow it to extend its footprint in last-mile logistics in the EV space. “We have identified some key infrastructural barriers towards mass adoption and are now actively addressing each obstacle through targeted investments. These range from empowering drivers and financing vehicles to creating EV infrastructure hubs. Our goal is to create a comprehensive EV ecosystem that will accelerate EV adoption throughout India, particularly in logistics.”  

Zyngo was founded in 2020 and offers last-mile delivery solutions through a fleet of electric vehicles. The company focuses on intra-city logistics to fulfill its daily logistics and transportation needs. Zyngo runs on an ‘asset-light model’ where they act 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 the demand from various e-commerce companies, SMEs, FMCG players, cloud kitchens and other channels; on the other hand, it aggregates supply directly from OEMs and DCOs(Driver cum operators).