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Zyp raises $1.2M, launches made-in-Pakistan electric bikes with battery swapping.
[Lahore, Sep 12, 2023] – Zyp Technologies (www.zyptechnologies.com) a burgeoning force in the electric mobility sector, announces raising $1.2M seed capital investment led by Indus Valley Capital. With this key investment, Zyp is driving mass-market adoption of electric mobility in Pakistan by addressing three key hurdles to adoption: 1. High upfront cost, 2. Range anxiety, and 3. Long charging times. Zyp achieves this through its indigenously developed product portfolio that includes purpose-built electric motorcycles, innovative battery swap stations, proprietary and patent pending battery architecture, cloud software, and mobile apps.
With climate change and rising fuel prices in Pakistan, the urgency to electrify transportation has never been greater. Zyp's solutions enable motorcycle fleet operators to save up to 70% on fuel costs and eliminate air-polluting emissions, making their operations environmentally sustainable and profitable.
Aatif Awan, founding partner at Indus Valley Capital, said: “With its vision to electrify the 25 million motorbikes in Pakistan, Zyp is building one of the most important products Pakistan needs to help solve the trade imbalance and high inflation. Zyp team has meticulously designed their electric motorbikes and battery swapping to perform well in the local environment, creating a remarkable indigenous solution we’re proud to back.”
Zyp founders joined forces with a mission to create Pakistan's own homegrown automotive brand in the clean energy sector. This dream team brings experience from Silicon Valley tech companies like Microsoft and Intel, as well as auto companies like Volvo and Land Rover, and startups like Retailo.
Over the past ten months, Zyp has made remarkable progress in designing and building its complete solution by using in-house experts, innovators, engineers, and a network of local and international suppliers & partners.
ZUM 2000 (Zyp Utility Motorcycle 2000) has been engineered to be gender-neutral, focused on delivery riders, enabling comfortable day-long deliveries at a significantly reduced cost compared to all other available options. Fleet operators get state-of-the-art fleet management software that includes advanced features like vehicle tracking, geo-fencing, theft detection, ride monitoring, and vehicle service tracking to effectively manage their fleet of ZUM 2000 motorcycles.
The Zyp Energy battery swap station is a pivotal achievement laying the foundation for Zyp’s battery-as-a-service (BaaS) business model. It helps Zyp bring the upfront cost down as the battery is not sold with the bike. It is instead provided for a subscription fee, based on usage. With an innovative design, and powered by technology to build on key principles of safety, security and ease of use, this station enables compatible motorcycles to be “refueled” within 60 seconds. Zyp is on track to install its first Zyp Energy station on the premises of a major B2B customer.
The company has also established an assembly line capable of producing up to 8,000 motorcycles annually, underscoring their commitment to meet demand from business customers and individual buyers.
Hassan Khan, Co-Founder and CEO of Zyp Technologies, remarked, "The backing from Indus Valley Capital has been instrumental. It is enabling us to build the right localized solution for Pakistan. Zyp is building beautiful vehicles as we know everyone is tired of the same 40+ years old motorcycle designs and copycat approaches to EVs. Pakistan deserves better. Zyp is on a mission to make that happen.”
He also added, “Pakistan Govt’s EV Policy was the triggering point which brought all founders together. Successive Govts must hold and evolve the policy to reduce Pakistan’s dependence on oil and to help ensure our cities have clean air once again”.
For media inquiries, please contact:
Rabail Khan
Product Manager, Zyp Technologies
About Zyp Technologies: Zyp Technologies (www.zyptechnologies.com ) is an emerging force dedicated to revolutionizing transportation through groundbreaking electric mobility solutions powered only by clean energy sources. The combination of Zyp Energy and Zyp Motors products, distinguished by innovative features and a robust safety framework, underscores the company's commitment to efficiency, affordability, and sustainability. By challenging conventional mobility paradigms, Zyp Technologies aims to pave the way for a greener future.
Zyp has also been working closely with the PFAN PPSE project, a platform for business coaching and investment facilitation for climate and clean energy projects in Pakistan.