EV logistics firm Zyngo raises $5 million in pre-series A funding
Gurugram-based tech-enabled third-party logistics service provider Zyngo EV Mobility Pvt Ltd has raised $5 million in Pre-Series A funding led by Delta Corp Holdings.
The funding also saw the participation of existing investors LC Nueva Investment Partners LLP. The funds will be used towards increasing fleet size, expanding to new geographies and enhancing technology.
Commenting on the investment, Prateek Rao, CEO and Founder, Zyngo, said, "Our efforts to deploy cutting-edge technology and electric vehicles for last-mile delivery have already garnered an overwhelming response from our customers. With this latest investment, we will accelerate our growth and expand our reach."
Mudit Paliwal, the CEO & Founder of Delta Corp - “This will help extend our footprint in last-mile logistics in the EV space. What better place than India with its large population and growth potential. We have identified some of the key infrastructural barriers towards mass adoption and are now actively addressing each obstacle through targeted investments. These range from empowering drivers, and financing vehicles to creating EV infrastructure hubs, our goal is to create a comprehensive EV ecosystem that will accelerate the adoption of EVs throughout India particularly in logistics.”