ImpactAlpha, August 8 – The app-based bus company runs bus routes for individuals and companies in major Indian cities, including Delhi, Bangalore, Mumbai and Hyderabad. Mumbai-based corporate Essel Group committed two billion rupees ($29.1 million) to the company to help it switch to an all-electric bus fleet and expand into smaller cities, like Udaipur, Indore, and Mangalore.
Essel Group is also planning to invest an additional billion rupees to help ZipGo launch a fleet of electric rickshaws.
Essel Group’s backing of ZipGo’s follows Amazon’s recent investment in Shuttl, another Delhi-based group transit provider that is trying to improve urban Indians’ commute.
