Company Intelligence Profile
Bycyshare Technologies Private Limited
Operates as "Zypp Electric" (earlier brand: "Mobycy" for bicycle-sharing, pre-2020).
Last updated 17 August 2026
AI-generated summary from public filings and may contain errors. Verify against the detailed sections below.
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Company Identity
Confirmed| Registered name | Bycyshare Technologies Private Limited |
|---|---|
| CIN | U63000HR2017PTC070227 |
| PAN | AAHCB3836D |
| Status | Active |
| Listing | Unlisted private company (not listed on any stock exchange) |
| Incorporated | 08 August 2017 |
| ROC | Registrar of Companies, Haryana / NCT-Delhi-Haryana jurisdiction — Tofler and Falconebiz list RoC "Haryana" |
| Sector (NIC) | NIC U63000 – "Supporting and auxiliary transport activities; activities of travel agencies"; business-facing classification on aggregator sites: Internet / Online Service Marketplaces / EV-as-a-service |
| Registered address | Tower 16, Flat 1201, The South Close, Sector 50, near Nirvana Country, Gurgaon, Haryana, India – 122018 |
| Authorized capital | ₹12.54 lakh |
| Paid-up capital | ₹2.65 lakh — note: paid-up capital is very small relative to scale of operations, typical of a startup that has raised most capital via preference shares/CCDs recorded outside equity paid-up capital, or the aggregator figure reflects only equity share capital. |
Business Overview
Confirmed- Operates as "Zypp Electric" (earlier brand: "Mobycy" for bicycle-sharing, pre-2020)
- Zypp Electric is a Gurugram-based, tech-enabled "EV-as-a-Service" (EVaaS) platform providing electric scooters and loaders on rental/subscription to gig-economy delivery riders working with Swiggy, Zomato, Zepto, Amazon and other last-mile logistics/e-commerce players
- Core revenue lines: EV rental/delivery-as-a-service (~75% of FY25 operating revenue) and vehicle rental income
- Founded by husband-wife duo Akash Gupta (CEO) and Rashi Agarwal (CBO)
- Tushar Mehta (COO) joined later
- Mission stated as decarbonizing India's last-mile logistics
Directors
Partial / conflictingFrom Falconebiz (with DINs) and Tofler (names corroborated):
| Name | DIN | Role | Appointed |
|---|---|---|---|
| Akash Gupta | 07300946 | Director & Co-founder & CEO | - |
| Rashi Agarwal | 07300933 | Director & Co-founder | - |
| Madhav Sikka | 02715131 | Nominee Director | - |
| Bruce Morrison Aitken | 10052217 | Nominee Director | - |
GST Registration
Partial / conflicting| GSTIN | State | PAN | Status |
|---|---|---|---|
| 06AAHCB3836D1ZY | Haryana | AAHCB3836D (Source: Tofler; corroborated by GSTIN 06AAHCB3836D1ZY which embeds the same PAN) | Active |
Primary GSTIN: 06AAHCB3836D1ZY (Haryana, state code 06) — legal name "Zypp Electric" / Bycyshare Technologies Pvt Ltd (Source: microvistatech.com GSTIN lookup). PAN embedded (AAHCB3836D) matches the PAN reported by Tofler for the same CIN — cross-check passes. Home state: Haryana. Total number of state registrations: not obtained (only the Haryana GSTIN was found; company likely has additional state registrations given pan-India delivery operations across 10+ cities, but these were not independently confirmed — "not obtained"). Status: presumed active (not independently re-verified on GST portal per source restrictions).
Financials
Partial / conflictingFY2024-25 — Standalone figures, entity not specified as consolidated:
| Revenue | ₹449 crore (up ~48-50% YoY from ₹302.5 crore in FY24) |
|---|---|
| Revenue breakdown | Delivery services ₹323 Cr (75%), vehicle rentals ₹111 Cr, other operating income ₹4 Cr, non-operating income ₹11 Cr |
| Total expenses | ₹556 crore (+42% YoY); rider-related costs ₹355 Cr (64% of spend); employee benefit expense ₹67.3 Cr (+42% YoY) |
| Net Loss (PAT) | ₹107.5 crore (widened ~20% from ₹89.5 Cr loss in FY24) |
| EBITDA | not disclosed in available free sources |
| Net worth | Tofler notes book net worth "decreased by 62.46%" YoY (FY24) — absolute figure not obtained |
| Borrowings/Charges | Open charges ~₹119 crore from lenders including HDFC Bank, Axis Bank, Northern Arc Capital, and others |
Operating revenue range per Tofler/aggregator band: ₹100-500 crore for FY ending 31 Mar 2024/2025.
Funding History
ConfirmedCumulative funding ~$62.5–76.5 million across 11-12 rounds; latest post-money valuation ~$323-350 million (Jan 2025). Key rounds:
- Angel Round, Oct 2018 — undisclosed — Bhaskar Raju + others
- Seed, Nov 2019 — $2.0M — IAN Fund + others
- Seed, Jul 2021 — $0.5M — Venture Catalysts + others
- Series A, Sep 2021 — $7.0M — We Founder Circle + 12 others
- Debt, Apr 2022 — $1.0M — Northern Arc Capital
- Series B, Feb 2023 — $25.0M equity + $5.0M debt — led by LetsVenture syndicate/Gogoro-linked investors (TechCrunch coverage)
- Series C1, May 2024 — $15.0M — led by ENEOS (Japan), with 9Unicorns, IAN Fund, Venture Catalysts, We Founder Circle participating; part of a larger planned $50M round ($40M equity + $10M debt)
- Series C (extension), Jan 2025 — ~$6.5M (₹55.4 Cr) from 16 investors
174 total investors (69 institutional, 105 angel) per Tracxn, including Goodyear Ventures, British International Investment (BII), ENEOS Innovation, Venture Catalysts, Indian Angel Network Fund, We Founder Circle, 9/100Unicorns, IVY Growth Associates. Company reportedly planning a further $40-50M pre-IPO round and eyeing a ~$200M IPO around FY28 (Outlook Business).
Charges & Loans
ConfirmedLegal / Litigation
ConfirmedIndian Kanoon search returned the following matters naming the company as a party: 1. Upgrid Solution Private Limited vs Bycyshare Technologies Private Limited — Punjab & Haryana High Court — 29 July 2025 2. Sukuruddin vs ICICI Lombard General Insurance Co Ltd — Bangalore District Court — 4 Nov 2024 (Bycyshare Technologies Pvt Ltd listed as a party at its Bengaluru address, likely a motor-accident/insurance matter involving a company vehicle) 3. Ajay Kumar R vs ICICI Lombard General Insurance Co Ltd — Bangalore District Court — 3 May 2025 (similar insurance-related matter, M/s Bycyshare Technologies Pvt Ltd named) These appear to be routine commercial/insurance disputes rather than material litigation; no adverse regulatory or criminal proceedings found.
Competitors
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