zoomcar | Pixr8 News

22Jun By Lavina TolaniNo Comments

FUNDING

Bike Rental Platform WickedRide raises $9.1 Mn Funding

Online Bike and Scooter Rental Platform Wickedride Adventures Services Pvt Ltd have raised Rs. 62.13 crore ( $9.1 million) in a funding round led by Accel Partners and Sequoia Capital. With the latest round in place, company's valuation has roughly reached Rs. 130-132 crore. As per Bengaluru based filings with Ministry of Corporate Affairs, Raghunandan Gangappa- co-founder of TaxiForSure that later got acquired by Ola also participated in the round. Founded in 2014 by Vivekanand Hallekere along with Varun Agni and Anil G, WickedRide has two different entities for its online scooter and bike rental ventures. It focuses in on bringing the best of motorcycling on one platform and make it easily accessible. The platform currently offers services in 10 cities including Bengaluru, Ja...

16Feb By Sabhyata AgarwalNo Comments

FUNDING

Zoomcar Raises $40 million Funding From Mahindra & Mahindra

The car and bicycle rental company Zoomcar have raised up to Rs 176 crore from Mahindra & Mahindra the Indian multinational car manufacturer. Mahindra & Mahindra (M&M) today said it will invest up to $27.6 million in-car and bicycle rental firm Zoomcar India and Zoomcar Inc, its US incorporated holding parent company. The deal specifies the fact that the investment of such a huge amount of Rs 176 crore when converted to common stock of Zoomcar Inc. ,would constitute approximately 16 per cent stake of the automotive major in Zoomcar Inc. This investment is a part of Series C round of funding worth $40 million (Rs 256 crore) which including the previous investors, the names of which the self-drive car rental startup didn't disclose. The startup ZoomCar was the first in Indi...

Zoomcar Launches Bike-Sharing Service in Mumbai Metropolitan

25Dec By NitishNo Comments

News

Zoomcar Launches Bike-Sharing Service in Mumbai Metropolitan

Self-drive car company Zoomcar has launched its cycle sharing service, PEDL, in the Mumbai Metropolitan Region starting with the privately-developed smart city, Palava. This is the fifth city after Pune, Chennai, Kolkata, and Bengaluru where Zoomcar has launched this service. At present, PEDL cycles have been placed across 30 locations in Palava. Zoomcar said that PEDL has about 200 cycles at launch, and has been able to manage more than 2,000 trips per days on an average since its launch on December 9. "We are piloting the project in Palava here, and will soon spread it across various other locations in Mumbai," said Nirmal NR, VP operations and growth, for Zoomcar Mumbai. However, he did not specify the investments made into the launch of the service. Nirmal, however, said th...

21Nov By AdityaNo Comments

FUNDING

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...

Zoomcar to Go International, Bets on Countries in Asia, Africa

12Sep By AdityaNo Comments

News

Zoomcar to Go International, Bets on Countries in Asia, Africa

Zoomcar, Indias first 100 per cent self-drive car rental company, today said it plans to foray into international markets and that it is strongly betting on Zoomcar Associate Program for its next milestone. The company has conducted an in-depth research and has a decent sense of market knowledge in Asia and Africa, Zoomcar CEO and Co-founder, Greg Moran said in a release here today. "Our aim is to be in 20-plus countries in next two-three years. To begin with, our first move would be towards Asia and then eventually get into Africa, which is quite an uncharted market," Moran said in a release here. From the tech point of view, there is a huge opportunity in Africa as few companies have come out with unique innovation, whereas the demographics are like India which again highlights ...

26Aug By NitishNo Comments

FUNDING

Zoomcar Raises $24 Million Fresh Funding From Ford Motor

Zoomcar, a Bengaluru-based self-drive car rental company raises $24 million (about Rs 160 crore) funding led by Ford Smart Mobility, a subsidiary of Ford Motor Company. Existing investors Sequoia Capital, Nokia Growth Partners (NGP) and Empire Angels also participated in the round. Zoomcar, which competes with Carzonrent and JustRide, lets users rent cars by the hour or day. It hopes to reach a fleet size of 25,000 in 25 cities by 2018. "We are at an inflection point. Currently, we have 2,000 cars with a presence in 7 cities. We are planning to launch in Kolkata soon and go to more tier-2 cities and penetrate deeper in existing cities," said Greg Moran, who moved from New York to Bengaluru in 2013 to start Zoomcar. This is Ford's first such investment in India. It has been Zoomca...

29Mar By NitishNo Comments

News

Now With Zoomcar Drive Your Own Auto

Have you ever faced an issue while commuting in an auto? Have you had drivers demanding excess fare? Have some of auto drivers just driven off? Don’t worry. Zoomcar is giving you the option to self-drive your own auto! Yup, now you can get your hand on one of those green machines! With a self-drive auto, you won’t have to listen to excuses like, “my meter is not working”, or “give me Rs.500/-” or “no, I’ll not get any return passenger from there” or “Station!!! Do you have luggage? Pay me extra Rs.200 for luggage.” Book your own Zoom Auto and drive to the places you want, minus the hassles and haggling with auto drivers. Self-drive your own auto, and don’t have the worry of hanging on to your life, as most auto drivers use their famous zigzag patterns of driving, with insane speeds t...