ZipGo, an app-based provider of intra- and inter-city bus services in India, has raised Series B investment from Subhash Chandra-led Essel Group. The funding is by Essel Green Mobility (EGM), a subsidiary of Essel Infraprojects Ltd (EIL), the infrastructure arm of the Essel Group.
Ashok Agarwal, CEO - New Initiatives, Essel Infraprojects Limited, said the company has invested Rs 2 billion in ZipGo’s current bus business to expand fleet and route network and to transition to a 100 per cent electric-buses fleet.
The company will be investing an additional Rs 1 billion over the next 12 months to launch electric