Shorooq Partners Leads $1.5Mn Funding for Zyp Technologies
This investment will support the launch of Zyp’s electric smart mobility technologies in Lahore, Pakistan.
Pakistan’s mobility startup Zyp Technologies has secured $1.5 million in pre-series A funding led by UAE-based Shorooq Partners, with participation from existing investor Indus Valley Capital and several angel investors. This investment will support the launch of Zyp’s electric smart mobility technologies in Lahore, Pakistan.[1]
With this funding, Zyp plans to establish over 60 battery swap stations and deploy 1,000 of its Zyp Utility Motorcycles (ZUM 2000) within the next 12 months. These smart motorcycles are equipped with fleet management software that includes accident alerts, anti-theft features, and location tracking.
Founded in 2022 by Hassan Khan and Imran Afzal, Zyp Technologies has established an assembly line capable of producing up to 12,000 electric motorcycles per year. The company also plans to release its motorcycles in multiple Gulf nations, including the United Arab Emirates, in 2025.
Last year, Shorooq Partners, along with India and South East Asian VC Peak XV Partners, led a $10 mn Series A funding round for Singapore’s digital currency fintech Triple-A, reports IBS Intelligence.
Shorooq Partners, which is headquartered in Abu Dhabi and invests across the Middle East, North Africa, and Pakistan (MENAP), has previously invested in UAE’s Pure Harvest Smart Farms, Nym Card, Saudi creative blockchain solutions startup Nuqtah, fintech Lean, and the UAE’s 3-D printing startup Immensa, among others.