IAN Fund I Takes Exit from Zypp Electric
A SEBI registered Rs. 375 crore fund and the maiden VC Fund of Indian Angel Network, IAN Fund I has taken exit from some of its investments. With only a partial divestment from Zypp, the company has provided IAN 6.5 times return with an IRR of 88 per cent.
Zypp, an electric mobility company, focused on making last mile delivery and mobility, provides tech enabled shared electric mobility platform for delivery and mobility in a sustainable way.
Akash Gupta, Co-founder & CEO of Zypp Electric, said, “Startups are here to return value to investors and this was a small milestone well achieved. IAN fund has been providing continued support right from the time when they invested in Zypp just before Covid-19. The Mission Zero Emission has just started with 16k EVs and we plan to grow this to 200k+ EV fleet over next 3 years to electrify last mile delivery across India & beyond.”
Said Padmaja Ruparel, Co-Founder IAN & Founding Partner, IAN Fund I, said "These are exciting companies, which have exhibited impressive growth but are poised to scale even faster and have yet to realise their full potential. IAN Fund 1 therefore remains majorly invested in them and hopes to give even better returns to its investors "
