Zypp Electric narrows FY26 loss 44% to ₹60 Cr, revenue up 5%

IPO-bound EV logistics startup Zypp Electric, operated by Bycyshare Technologies, reported a consolidated net loss of ₹59.7 crore for FY26, down 44.4% from ₹107.5 crore in FY25. Operating revenue rose 5.2% to ₹461 crore from ₹438.1 crore, according to regulatory filings with the ministry of corporate affairs.

The company's core delivery service brought in ₹322.4 crore, nearly flat year-on-year, while EV rentals surged 24% to ₹137.7 crore. Total expenses fell 3.8% to ₹534.8 crore, driven by a 5.7% drop in rider costs to ₹334.6 crore. However, battery-swapping expenses rose 40.3% to ₹24 crore as the fleet expanded.

Zypp, founded in 2017 by Akash Gupta and Rashi Agarwal, competes with Yulu and Alt Mobility. It has hired Axis Capital, SBI Capital Markets and DAM Capital for a proposed $200 million IPO expected within the next 22 months.