IAN Fund I achieves stellar exit from Woodenstreet and Zypp Electric

11 Oct 2023 CW Team

Woodenstreet, founded by Lokendra Ranawat, Dinesh Pratap Singh, Virendra Ranawat, and Vikas Baheti, has achieved remarkable success by leveraging creativity and technology. Operating 100 stores nationwide, the company, based in a Tier 2 city, addresses the demand for customised furniture among the burgeoning Indian middle class. Their innovative solutions have not only scaled the business profitably but have also positively impacted the lives of unorganised carpenter communities. The company plans to expand to 300 stores in the next two years and is set to introduce its exclusive furnishing line, 'Earthy Threads'.

Zypp Electric, on the other hand, is a pioneering electric mobility company dedicated to achieving zero emissions. Focused on last-mile delivery and mobility, Zypp aligns with India's vision of achieving Net Zero by 2070. The founders, Akash, Rashi, and Tushar, have collaborated with major delivery and e-commerce companies across the country, providing a tech-enabled shared electric mobility platform in an affordable and sustainable manner. With 16,000 electric vehicles currently in operation, Zypp plans to expand its fleet to 200,000+ EVs over the next three years, electrifying last-mile delivery services across India and beyond.

Lokendra Ranawat, CEO of Woodenstreet, expressed gratitude to IAN for their unwavering support, especially in leveraging technology and enhancing customer satisfaction. Woodenstreet's ambitious plans include the launch of their exclusive furnishing line, 'Earthy Threads', and the establishment of 300 stores in the near future.

Akash Gupta, CEO of Zypp Electric, acknowledged the support of IAN, emphasising the importance of startups in delivering value to investors. Zypp plans to scale its operations with the mission of zero emissions, expanding its EV fleet from 16,000 to over 200,000 vehicles in the next three years, revolutionising last-mile delivery services across India and beyond.

Padmaja Ruparel, Co-Founder of IAN and Founding Partner of IAN Fund I, highlighted the tremendous growth potential of these companies. IAN Fund I remains heavily invested in Woodenstreet and Zypp Electric, anticipating even greater returns for its investors in the future.

Saurabh Srivastava, Co-Founder of IAN, reiterated the organisation's commitment to supporting innovative founders addressing real-world challenges. He expressed enthusiasm for creating more success stories similar to those of Woodenstreet and Zypp Electric, reaffirming the group's dedication to nurturing groundbreaking startups.

IAN Fund I has recently made partial exits from Woodenstreet and Zypp Electric, reaping substantial returns in the process. Woodenstreet has yielded over 10 times the initial investment, boasting an impressive IRR of 105%, while Zypp Electric delivered a 6.5 times return with an IRR of 88%. Both companies are poised for significant growth, prompting the Fund to retain a substantial portion of its shares, anticipating their continued success. Woodenstreet, founded by Lokendra Ranawat, Dinesh Pratap Singh, Virendra Ranawat, and Vikas Baheti, has achieved remarkable success by leveraging creativity and technology. Operating 100 stores nationwide, the company, based in a Tier 2 city, addresses the demand for customised furniture among the burgeoning Indian middle class. Their innovative solutions have not only scaled the business profitably but have also positively impacted the lives of unorganised carpenter communities. The company plans to expand to 300 stores in the next two years and is set to introduce its exclusive furnishing line, 'Earthy Threads'. Zypp Electric, on the other hand, is a pioneering electric mobility company dedicated to achieving zero emissions. Focused on last-mile delivery and mobility, Zypp aligns with India's vision of achieving Net Zero by 2070. The founders, Akash, Rashi, and Tushar, have collaborated with major delivery and e-commerce companies across the country, providing a tech-enabled shared electric mobility platform in an affordable and sustainable manner. With 16,000 electric vehicles currently in operation, Zypp plans to expand its fleet to 200,000+ EVs over the next three years, electrifying last-mile delivery services across India and beyond. Lokendra Ranawat, CEO of Woodenstreet, expressed gratitude to IAN for their unwavering support, especially in leveraging technology and enhancing customer satisfaction. Woodenstreet's ambitious plans include the launch of their exclusive furnishing line, 'Earthy Threads', and the establishment of 300 stores in the near future. Akash Gupta, CEO of Zypp Electric, acknowledged the support of IAN, emphasising the importance of startups in delivering value to investors. Zypp plans to scale its operations with the mission of zero emissions, expanding its EV fleet from 16,000 to over 200,000 vehicles in the next three years, revolutionising last-mile delivery services across India and beyond. Padmaja Ruparel, Co-Founder of IAN and Founding Partner of IAN Fund I, highlighted the tremendous growth potential of these companies. IAN Fund I remains heavily invested in Woodenstreet and Zypp Electric, anticipating even greater returns for its investors in the future. Saurabh Srivastava, Co-Founder of IAN, reiterated the organisation's commitment to supporting innovative founders addressing real-world challenges. He expressed enthusiasm for creating more success stories similar to those of Woodenstreet and Zypp Electric, reaffirming the group's dedication to nurturing groundbreaking startups.