Abu Dhabi - Sharikat Mubasher: Shorooq Partners, a renowned alternative investment manager based in Abu Dhabi, led a $1.5 million pre-Series A funding round for Zyp Technologies, a leader in the sustainable transportation sector.
The company will use the investment to deploy over 60 battery swap stations and launch 1,000 electric utility motorcycles (ZUM 2000) in Lahore within the upcoming 12 months, according to a recent statement.
IndusValley Venture Capital participated in the round along with other angel investors.
Zyp provides a wide range of solutions that allow motorcycle fleet operators to make their operations environmentally sustainable while reducing Pakistan’s dependence on oil.
Omer Zabit, Principal at Shorooq Partners, stated that the investment represents a great opportunity to support more sustainable innovations in emerging markets.
“Our investment in Zyp Technologies will drive significant environmental and economic benefits for Pakistan in the long term by addressing some of the challenges that delivery companies and the mobility industry typically face,” Zabit added.
Meanwhile, Hassan Khan, Co-founder and CEO of Zyp Technologies, commented: “This pivotal investment accelerates us towards achieving Pakistan’s electric vehicle ambitions by 2030. Zyp is removing affordability barriers for high-quality electric vehicles designed specifically for Pakistan’s tough environment, where extreme temperatures and bumpy roads abound.”
It is worth mentioning that Zyp Technologies plans a mass release of motorcycles in multiple GCC countries, notably the UAE, in 2025.