Zyngo, an EV logistics startup, raises $5 million in funding backed by Delta Corp.

Zyngo currently claims to do approximately 3 lakh deliveries per month with a fleet of over 1,150 vehicles that includes both 2W and 3W EVs. Zyngo purchases or leases these cargo e-loaders from OEMs such as Hero Electric, Piaggio, Kinetic Green, and Mahindra Electric, among others.

Zyngo EV Mobility is a technology-enabled third-party logistics service provider situated in Gurugram. Delta Corp led the $5 million Pre-Series A fundraising round, which also included current investors LC Nueva Investment investors LLP.

According to the corporation, the funds will be used to increase fleet size, expand into new geographies, and improve technology.

About Zyngo

Prateek Rao founded Zyngo in January 2020 to provide last-mile delivery solutions using an electric vehicle fleet. The company serves both B2B and B2C customers. The main focus of the firm is on intra-city logistics to meet their everyday logistical and transportation needs.

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It operates on a unique 'asset-light approach,' in which they act as a mediator between market supply and demand while overseeing the operations and management of EV fleets from start to finish.

Zyngo collects demand from a variety of e-commerce enterprises, SMEs, FMCG players, cloud kitchens, and other channels. On the other side, it directly aggregates supply from OEMs and DCOs (driver cum operators).

At present, the company claims to do approximately 3 lakh deliveries per month with a fleet of over 1,150 vehicles that include both electrical 2W and Three- Wheelers. Zyngo purchases or leases these cargo e-loaders from OEMs such as Hero Electric, Piaggio, Kinetic Green, and Mahindra Electric, among others.

'With this additional investment, we are delighted to accelerate our growth and expand our reach, while maintaining true to our promise to provide eco-friendly and inexpensive logistics solutions,' said Prateek Rao, CEO and Founder of Zyngo.

Delta Corp CEO and Founder Mudit Paliwal stated, "We are very excited to support Zyngo and expand our footprint in last-mile logistics in the EV space. What better destination than India, with its vast population and potential for growth? We have identified some of the most significant infrastructural impediments to mainstream adoption and are now aggressively tackling each one through targeted investments. Our goal is to establish a comprehensive EV ecosystem that would expedite the adoption of EVs throughout India, notably in logistics.”