Indian electric vehicle startup Zypp Electric is set to expand its operations into Southeast Asia with the backing of Japanese oil and energy conglomerate ENEOS, TechCrunch has learned exclusively. The funding round, which totaled $15 million, was led by ENEOS and is part of Zypp Electric's Series C round, which aims to raise between $35 million to $40 million and is expected to close within six to eight weeks. Co-founder and CEO Akash Gupta revealed in an interview with TechCrunch that the startup plans to launch its pilot in at least one Southeast Asian market early next year. The company targets a presence in 15 markets over the next two years, with initial focuses on Indonesia, Thailand, and the Philippines. Gupta highlighted that these countries are particularly conducive for two-wheeler-centric deliveries, a key market segment Zypp Electric plans to penetrate. Indonesia will be the first market where the startup plans to establish its foothold. Zypp Electric, headquartered in Gurugram, currently operates in major Indian cities including Delhi, Bengaluru, Mumbai, and Hyderabad. The startup offers an EV-as-a-service platform tailored for e-commerce companies and gig workers. This platform includes an app and software that provides data and analytics for fleet and delivery management, along with a fleet of electric two-wheelers. The startup caters to a wide range of sectors including courier services, e-commerce, food and grocery delivery, and ride-sharing, serving companies such as Amazon, BigBasket, DHL, Uber, Swiggy, Zepto, and Zomato. Zypp Electric facilitates approximately 5 million deliveries every month. Previously, Zypp Electric aimed to expand its fleet to 200,000 electric two-wheelers and enter 30 Indian cities by the end of 2025. However, Gupta disclosed that the startup has decided to deepen its presence in existing markets rather than expanding into new cities with minimal presence. In addition to electric two-wheelers, Zypp Electric has started offering electric three-wheelers in Delhi and Bengaluru and plans to expand to Mumbai soon. The three-wheeler fleet already contributes 10% of the startup's total revenue. Currently, Zypp Electric operates with about 15,000 electric two-wheelers in Delhi, 5,000 in Bengaluru, 1,000 in Mumbai, and 500 in Hyderabad. The company aims to grow its fleet from 22,000 electric two-wheelers to 50,000 over the next year and further expand to a fleet of 200,000 electric two-wheelers over the next two and a half years. Zypp Electric has already achieved operational profitability and is on track to become EBITA (earnings before interest, taxes, and amortization) positive within six to eight months. The startup expects to achieve profit after taxes within 12 to 14 months. Previously, Zypp Electric raised $25 million in a Series B round led by Taiwan's battery-swapping company Gogoro, with support from Goodyear Ventures, Google for Startups, and Shell E4. As part of its global expansion strategy, Zypp Electric is also in early talks to explore opportunities in the Middle East. However, details of this expansion plan were not disclosed. In conclusion, Zypp Electric is well-positioned to expand its footprint in Southeast Asia with the backing of ENEOS, leveraging its successful operational model and strong market presence in India. The startup's focus on sustainable and efficient electric vehicle solutions underscores its commitment to driving innovation in the last-mile delivery segment across diverse global markets.