Zypp Electric Sustains Backing for Innovative EV Startups
Zypp Electric, a prominent tech-enabled Electric Vehicle (EV) platform in India, has successfully concluded its EVolve Challenge Season 2, designed to foster innovation-driven startups in the EV sector dedicated to shaping a sustainable future. The victors, AddUp Network and NikolEV, are set to be awarded a cash prize of INR 10 lakh and receive orders valued up to INR 2 crore from Zypp Electric. Additionally, they will benefit from incubation and funding support provided by Zypp Electric.
This year's competition attracted a remarkable lineup of startups, all dedicated to creating a sustainable future and transforming the Electric Vehicle (EV) industry. Following a thorough evaluation, two standout startups, AddUp Network and NikolEV, emerged as the winners. AddUp Network is a Software as a Service (SaaS)-based logistics startup focused on democratizing the supply chain for Small and Medium-sized Businesses (SMBs), fostering their growth through technology-driven logistics excellence and innovation.
Abhishek Prabhuda, Founder and Director of AddUpNetwork, expressed that participating in the Evolve Challenge was a thought-provoking experience, with a seasoned jury posing intriguing questions. This prompted a reevaluation of various aspects of their business model, such as the target market, pricing strategies, and collection methods, now serving as key pillars for AddUp Networks. The journey so far has been an exhilarating roller coaster, catering to both major clients and SMEs while continuously learning and evolving with them.
Prabhuda further stated that the growth vision with Zypp Electric is highly exciting, combining a SaaS-based tech stack with an Electric Vehicle as a Service (EVaaS) operating model. This synergy introduces advantages such as hyperlocal and e-commerce deliveries, as well as innovative delivery methods like same-day and slotted delivery. The second winner, NIKOL EV, is actively constructing India's largest operational EV charging infrastructure with their internally developed and designed chargers. They have established EV charging stations with an impressive uptime of 98%, surpassing the industry average of 60%.
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