Ford Contributes More Funding to India’s Zoomcar
Auto Rental News
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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
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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.
Zoomcar Associate Program Now Allows You to Lease Your Own Car
Trak.in
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April 12, 2016
Zoomcar is one of the most popular self-drive car rental company and until now it was renting our cars for users to drive on their own. In a new service launched last week, Zoomcar will now allow its users to lease their own cars on the platform.
Zoomcar launches doorstep delivery services
India Today
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Jan. 18, 2016
Zoomcar, a self-drive car renting company, today launched doorstep services for its customers across in major cities such as Delhi, Mumbai and Hyderabad. Besides, customers of Bengaluru, Chennai, Pune and Chandigarh would also get a car for use delivered by company's officials and members of the corporate team, Zoomcar said in a statement.
City Holiday Crowd Thronging to Goa
The New Indian Express
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Dec. 24, 2015
Zoomcar, a self-drive car rental company, has given out all its cars for this weekend. The duration of the holiday ranges from three to five days. Greg Morgan, CEO, Zoomcar, says, “Hills and beaches are popular. Goa and Kerala are the most popular destinations this year.”
How self-drive is heating up car rental space
YourStory
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Oct. 19, 2015
Founded in 2013 and headquartered in Bengaluru, Zoomcar, which holds the distinction of being the country’s first self-drive car rental company, disrupted the market with its service. The idea was derived from the concept of sharing economy. Based on the Zipcar business model, the startup was introduced in India by Greg Moran and David Back. Since the launch in 2013 with just seven cars, Zoomcar has expanded its fleet to 1,800 with price range varying between Rs 95 per hour to Rs 250 per hour.
Users below 30 driving car-rental services: Greg Moran
Daily News & Analysis
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Aug. 19, 2015
Bangalore-based self-car rental service Zoomcar, which recently raised $11 million in fresh funding from NGP Advisors India, Sequoia Capital and Empire Angels, is looking to expand its car fleet to 50,000 in the next 3-4 years from 1,600 at present.
Car-Sharing Startups Hit the Road in India
Businessweek
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Nov. 27, 2014
Zoomcar, based in Bangalore, has attracted U.S. investors, including venture capital firm Sequoia Capital, which led an $8 million investment round in October, and former U.S. Treasury Secretary Lawrence Summers.
Sequoia Leads $8 Million Funding in Vehicle-Rental Startup in India
Wall Street Journal
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Oct. 30, 2014
Sequoia Capital has invested $8 million in Zoomcar, an Indian vehicle-rental startup, along with other investors. While small in value, the deal is the latest sign of investors’ growing appetite for startups focused on urban transportation needs, including online taxi booking, in emerging markets.
ZoomCar Expands Car Sharing in India
Auto Rental News
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Sept. 9, 2014
Zoomcar, an India-based car-sharing company, has expanded its services to a second city in India. Now operating in Pune, it has four locations within the city. Vehicles include the Ford Figo, Ford Ecosport, Honda City, Mahindra Scorpio, Mahindra XUV 500, Tata Safari, and a Mercedes A Class, says the company.
Zoom Named as One of the "14 Top Startups to Watch" by The Economic Times
The Economic Times of India
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Jan. 2, 2014
Zoom launched in February 2013 and is expected to grow quickly this year. Zoom has raised a $1.6M seed round led by Empire Angels and FundersClub. Other personal investors include Larry Summers, Lady Barbara Judge, professors from Wharton, Harvard Law School, and the Judge School of Business at Cambridge University.
ZOOM CLOSES SEED ROUND
The Hindu
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Oct. 2, 2013
Bangalore-based Zoom, a membership-based car rental service which made waves a few months ago after picking up former U.S Treasury Secretary Larry Summers as a financial backer, has closed its seed round of capital.
LARRY SUMMERS-FUNDED ZOOMCAR RAISES $1 MILLION
The Times of India
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Oct. 2, 2013
Self-drive car rental company ZoomCar has raised around $1 million in fresh funding led by New York-based angel investor group Empire Angels taking the total seed round to over $1.6 million.
LARRY SUMMERS FUELS BANGALORE CAR HIRE STARTUP
Times of India (frontpage)
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Aug. 10, 2013
The Bangalore-based company - which began operations in February this year - has already raised $650,000 in capital from a clutch of marquee investors across the globe and has clocked 800 bookings in a little over 20 weeks..."Probably over 1,000 people told us there is no demand for such a venture since rental cabs are mainstays on the road. But we've have had to turn down reservations, roughly four reservations per car over weekends, for every single weekend for about 25 weeks in a row as demand exceeded supply. This proved our point," say the duo.
INDIAN DRIVERS ATTRACT LARRY SUMMERS
WSJ Blog
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Aug. 8, 2013
Larry Summers, a leading candidate to be the next Federal Reserve chairman, has an eye on the streets of India. On May 31, he invested $30,000 in ZoomCar India Pvt. Ltd., a vehicle rental startup in Bangalore. The company is styled like Zipcar, which Avis Budget Group Inc. acquired in January, with vehicles rentals available for as little as an hour.
SELF-DRIVE YOUR WAY TO GLORY WITH ZOOMCAR
CNBC
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June 19, 2013
London based market intelligence firm Euromonitor has pegged the Indian car hire market at about USD 3 billion currently with a growth rate of 14 percent just last year. Self-drive was the fastest growing segment which prompted the duo of Greg Moran and David Back, graduates from the University of Pennsylvania to start-up
ATTACKING A $3 BILLION RENT-A-CAR MARKET
Forbes
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April 1, 2013
By the numbers, the company could potentially reap impressive rewards by catering to urbanites in Delhi and Mumbai—cities that are each expected to reach about 24 million in population by 2020. In fact, ZoomCar could, if it grows fast enough and markets cleverly enough, carve an impressive slice of the self-serve car rental space in a country where 300 million live in metropolitan regions.
