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News and Press

Ford Contributes More Funding to India’s Zoomcar

Auto Rental News • Aug. 6, 2016

Zoomcar, an India-based carsharing service, has raised another $25 million in a Series C round of funding, according to a report by Tech Story. Among the investors, Ford Motor Co. led in funding during this current round. This investment has increased Ford’s total equity investment to $46.5 million, says the report.

Zoomcar changes track to marketplace model, aims for profitability by 2017

Economic Times • June 16, 2016

Self-drive car rental startup Zoomcar, which last year had raised $11million from various investors such as Nokia Growth Partners and Sequoia Capital, has pivoted to a marketplace model as part of a broader strategy to drive efficiencies in its business, as it aims to hit profitability by next year, expand into new markets and raise a fresh round of funding over the next 2-3 months.

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