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Zypp Electric has reduced its workforce by nearly 10% in preparation for an IPO by the end of 2026, decreasing its staff from around 1,300 to approximately 1,180-1,190. CEO Akash Gupta stated that the layoffs were due to performance issues and aimed at enhancing efficiency for sustainable growth, while denying any reports of a “loss-of-pay policy” for team leads. The company is focused on achieving EBITDA profitability ahead of its listing.
TiE Mumbai hosted the Hall of Fame Awards at TiEcon 2025, recognizing exceptional contributions to entrepreneurship and the economic ecosystem. The event, attended by over 3,000 participants, honored leaders like Chief Minister Devendra Fadnavis and innovators such as Suvir Sujan and T. V. Mohandas Pai for their transformative impact. Chief Guest N. R. Narayana Murthy celebrated the achievements of those driving India's startup growth and investment landscape.
Uttar Pradesh is leading India's electric vehicle (EV) adoption, contributing 19% of the 20 lakh registered EVs in 2024, driven by government incentives and a growing market. However, the state faces a significant gap in charging infrastructure, with only 1,989 public stations for 58 lakh registered EVs, highlighting the urgent need for improved facilities to support this rapid growth. Meanwhile, Karnataka excels in both EV adoption and charging infrastructure, emphasizing the importance of efficient and fast charging solutions to enhance consumer convenience and accelerate the transition to electric mobility.
Aakash Gupta
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Zypp Electric reduces workforce by 10 percent ahead of IPO plans
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