Zyp Technologies Secures $1.2 Million Seed Funding. A Pakistani startup specializing in electric motorcycles has successfully secured more than $ 1 million in funding led by Indus Valley Capital.
The company, headquartered in Lahore, operates an assembly plant with an annual production capacity of 8,000 electric motorcycles. Additionally, their energy division, based in Islamabad, provides battery-as-a-service (BaaS).
Zyp Technologies focuses on two key business lines: electric motorcycles and battery services. The company aims to address common challenges associated with electric vehicles, including high initial costs, range anxiety and extended charging durations.
Read More: Enfabrica Raises $125M for Advancing AI Networking Chip Innovation
Through their proprietary product lineup, which includes purpose-built electric motorcycles, innovative battery swap stations, patent-pending battery architecture, cloud software, and mobile applications, Zyp intends to revolutionize the electric motorcycle industry. Once the news broke out that Electric motorcycles startup raises $1.2m, then many such dreams may take shape now in Pakistan.
This significant investment in Zyp is strategically focused on overcoming three primary barriers to electric mobility adoption in Pakistan:
- High Initial Costs
- Range Anxiety
- Prolonged Charging Times
Depending on the specific variant being produced, these motorcycles will be priced in the range of approximately Rs. 150,000 to Rs. 450,000. As per the official announcement, this funding will be channeled into Zyp’s assembly line, which boasts an impressive annual production capacity of up to 8,000 electric motorcycles, aiming to meet the growing demand.
Given the concerns related to climate change and rising fuel prices in Pakistan, the need to transition to electrified transportation has become increasingly urgent.
Read More: Sony Unveils Energy Harvesting Chips
Zyp’s solutions offer motorcycle fleet operators the opportunity to achieve significant savings of up to 70% on fuel expenses while simultaneously eliminating environmentally harmful emissions, establishing a more sustainable and profitable operation.
Aatif Awan, founding partner at Indus Valley Capital, emphasized that Zyp’s initiatives align with critical national priorities, helping to address trade imbalances and inflationary pressures.
Hassan Khan, co-founder and CEO of Zyp Technologies, revealed that the company’s journey began with an initial bootstrap capital of $66,000. The recent seed funding will be used for capital expenditures for the assembly plant and expanding battery solutions.
Addressing a common concern for electric vehicle users, Khan highlighted the introduction of battery-as-a-service, offering various subscription tiers tailored to individual rider usage. This innovative approach simplifies the battery replacement process, similar to refueling at a conventional petrol station.
Read More: National Incubation Center for Aerospace Technologies
Zyp Technologies Secures $1.2 Million Seed Funding while offering a range of motorcycle models with prices ranging from Rs150,000 to Rs450,000. Battery subscription costs vary between Rs4,000 and Rs24,000.
The company places a strong emphasis on domestic production, with locally-manufactured charging stations capable of replenishing compatible motorcycles in just 60 seconds.
While the battery cells are imported, the motorcycle’s motor, design frame, all body components, and software solutions enabling fleet tracking and performance monitoring are domestically sourced. Zyp Technologies is at the forefront of Pakistan’s electric vehicle landscape, poised to lead the charge toward a sustainable and eco-conscious future in transportation.
For more information, please visit Munafa Marketing.
