IAN Find I Announces Partial Exit From Woodenstreet And Zypp Electric

Updated on: 11 October 2023 8:19 pm

The techpreneur believes that if a founder is focused on an exit strategy, they might forget to build and fortify their business

Never Have An Exit Strategy, Advises Tomas Gorny, Co-Founder And CEO of Nextiva Photo: The techpreneur believes that if a founder is focused on an exit strategy, they might forget to build and fortify their business

IAN Fund I announces great exits from some of its investments. With only a partial divestment from Woodenstreet, the company has provided IAN an exceptional return of more than 10 times with an IRR of 105 per cent. This comes on top of a partial divestment from Zypp which provided 6.5 times return with an IRR of 88 per cent. Both these companies have tremendous potential going forward and the Fund has retained the major part of its shareholding to ride their success.

WoodenStreet’s excellent founders, with a deep understanding of their domain- Lokendra Ranawat, Dinesh Pratap Singh, Virendra Ranawat, and Vikas Baheti, have executed brilliantly to scale their business rapidly AND profitably, to 100 stores pan India. On the other hand, Zypp is an electric mobility company, focused on making last-mile delivery and mobility, achieving zero emission, and aligning with India’s vision of achieving Net Zero by 2070. The company provides a tech-enabled shared electric mobility platform for delivery and mobility in an affordable and sustainable way.

Lokendra Ranawat, chief executive officer (CEO) of Woodenstreet, said “We are deeply grateful to IAN for their endless guidance, especially as we leveraged technology to scale and focus on customer satisfaction. We intend to open 300 stores in the next two years.”

Follow our WhatsApp channel

Akash Gupta, co-founder and CEO of Zypp Electric, said, “Start-ups are here to return value to investors and this was a small milestone well achieved. IAN fund has been providing continued support right from the time they invested in Zypp just before COVID-19. We continue to believe and work closely with the IAN team as we scale Zypp to newer heights. The Mission Zero Emission has just started with 16k EVs and we plan to grow this to 200k+ EV fleet over the next 3 years to electrify last mile delivery across India and beyond.”

Said Padmaja Ruparel, co-founder and founding partner, of IAN Fund I, "These are exciting companies, which have exhibited impressive growth but are poised to scale even faster and have yet to realise their full potential. IAN Fund 1 therefore remains majorly invested in them and hopes to give even better returns to its investors "