Two climate tech companies funded by the firm experience great success
Close on the heels of the exceptional success of their two pre-seed funded companies, Zypp and Bambrew, Founder-led Micro VC firm Upsparks – focused on pre-seed investments so far- aims to expand its reach in the climate tech sphere. Zypp and Bambrew which are considered to be among the prime players in climate tech sector have made excellent impact in the climate tech domain. And behind their success is Upsparks, which has been Instrumental in encouraging these two start-ups very early on in their journey by ensuring initial stage funding to build their businesses.
Commenting on the matter, Mohamad Faraz, Founding Partner, Upsparks, said: “Invigorated by recent developments, primarily in the sustainable domain, funding has multiplied exponentially in the sector. With high demand for investment and innovation, climate tech-focused funds hit a record $21 billion in capital raised during 2021 and investment is expected to reach $49 billion by the end of the year. Upsparks wants to tap this potential early on and capitalize on the growth of the said sector.”
Zypp Electric is India’s leading tech-enabled EV-as-a-Service for last mile delivery. Founded in 2017, its vision is Mission Zero Emission and to make India carbon-free by using an ecosystem of Electric Vehicles and EV-based technology to make last mile logistics sustainable. Zypp is a Connected B2B EV mobility service provider for last mile logistics for E-commerce, Hyperlocal, Food & Retail businesses.
The company has helped in the reduction of around 20 million kg of carbon dioxide emission since inception. The cut in greenhouse gas emission they have achieved is equivalent to planting over 413,984 trees. The total distance covered so far using their connected electric vehicle fleet is 43,923,622 kms. Some of its clientele include Dealshare, Zepto, Blinkit, Amazon, Zomato, Flipkart, Myntra, Delhivery and Swiggy). The company delivers close to 1 mn shipments on carbon free e-scooters with trained Zyppp drivers every month.
Talking about the success of Zypp, Akash Gupta, Founder & CEO, Zypp said: “The current Annual Recurring Revenue of the company is $ 10 million and is growing at 25% month on month aiming to reach $15 million in the coming months. The feather in the cap of Zypp is the strategic partnership with Hero electric for 1.5 lacs E-scooters and the entire charging, swapping infrastructure players playing out at scale in the next 24 months. The ecosystem partnerships will help us scale up significantly helping all our logistics partners to scale easily with Zypp nationally.”
Bambrew is a tech driven, global first, sustainable packaging brand which breathes sustainability. With its mission to eradicate single use plastics from the supply chain, Bambrew currently stands at the single largest company which innovates solutions across E-Commerce, FMCG, Retail, F&B and Pharmaceutical industries. With its innovations, Bambrew has saved more than 15000 tons of plastics and over 4 million trees since inception. The company is also eyeing to set foot overseas with Singapore and Netherlands to startoff and caters to globallyrenowned clients such as Amazon, Flipkart, Myntra, Nyka, Big Basket, Aditya Birla, Puma, Zepto, Dunzo, Smytten among 150 others.
Vaibhav Anant, Founder and CEO, Bambrew said: “The plastic problem is perennial.More than 400 million tons of single use plastics are dumped in oceans and landfills or are incinerated. We are unaware that we ingest ourselves with 2.5 micro grams of plastics every week and there is evidence that this is present in human blood which leads to many diseases not limited to cancer. Recycling is not the answer as global data shows we only recycle 9%.Governments and corporates are already shifting to sustainable alternatives. We have grown 40% MoM and are looking to close $ 10+ million in revenues this financial year. We have received excellent support from our partners and have 100% retention rate and are now present in Bangalore, Mumbai, Delhi, Kolkata, Hyderabad and Chennai.”
Having seed-funded over 50 companies with main focus on Saas, Fintech, B2B, Climate/Clean tech, Web 3.0 amongst others, Upsparks intends to invest in 50 more companies by the end of this year, and, overall, it is targeting Rs 100 crore investment by the end of 2022. Upsparks wants to tap the boom in clean tech sector among other investments.
About Upsparks
Upsparks is a Founder Led micro-VC firm focussed on early-stage investments and is known for its exceptional expertise in funding, nurturing and assessing technology start-ups. It was founded in the year 2020 by Mohamad Faraz, Shivam Prasad and Vinay Jain, all three seasoned entrepreneurs in their own right. With multiple start-ups in their kitty in a span of just over two years, the company aims to continue its aggressive growth plans in the future and grow exponentially. Upsparks is a differentiator from the crowd as it partners with founders and works closely as a sounding board, leveraging its expertise in GTM strategy, enterprise sales, product journey, growth, engineering, customer success and talent acquisition, creating value for technology-focussed entrepreneurs. Upsparks is recognized as one of the most active micro-VC firms, assisting entrepreneurs, investors, and operators in growing the budding start-up ecosystem in India.
Website Link: https://upsparks.vc/
