It was a time when Ola and Uber were competing to capture the market when ZipGo came and addressed the commuting problem in Banglore way differently. It did the deteriorating traffic issue and also offered a comfortable journey with its AC buses at a very cheaper price.
This New-Delhi based startup provides intracity and intercity bus services through an app and was founded in 2015 by Pritesh Gupta, Jitender Sharma, Gaurav Agarwal, and Neeraj Paliwal. It has now raised Rs. 300 crore is Series-B funding led by the Essel Green Mobility. Rs. 200 crore investment from EGM will be used to expand the fleet and route and also to transition to a network of 100 percent electric buses. The additional Rs. 100 crore from the group will be used to launch a new category – e-rickshaws.
This urban commute venture has initially raised $3 million in Seed Funding when it began its operations back in 2015. It eventually expanded its services in Delhi, Hyderabad, Mumbai, and Bengaluru and raised another $6 million Series A funding led by Ventureast and Omidyar Network in December 2016.
Jitender Sharma, co-founder & CEO, ZipGo, said, “Essel Group has a vast experience in building and operating multi-billion dollar, world-class infrastructure across the country. Hence, this investment, along with the support of the Essel Group, will now allow ZipGo to accelerate its growth, with a clear focus on green mobility, and successfully navigate the operational challenges of building a pan-India mass-transportation business.”
The Indian Government is planning to execute an EV policy which will promote electric vehicles in the country. This will be implemented on a smaller scale initially to ensure a smooth transition and elicit support from automobile manufacturers. Zipgo is also in plans to go beyond Tier-I and Tier-II cities and start operations in smaller cities including Vishakhapatnam, Tirupati, Udaipur among others.