Zoomcar To Raise $50M Funding From Existing And New Investors
Self-drive car rental service Zoomcar India Pvt Ltd is in talks to raise a funding of $50 million from new and existing investors, Mint reported.
Citing two people aware of the development, the financial daily reported that Zoomcar's funding talks have progressed with M&M (Mahindra & Mahindra) the Indian multinational car manufacturing corporation headquartered in Mumbai.
“They are in advanced talks with Mahindra and Mahindra, while there is interest from two other new investors, too,” the first person told the source.
In its partnership with M&M, Zoomcar will be launching electric cars in Agra, Dehradun and Chandigarh.The company is currently running a pilot in Mysore, according to a third person familiar with the matter.
The information has not yet been verified, as t...