Zoomcar has managed to raise USD 24 million in its latest funding round. Ford Smart Mobility Llc has led this funding round. Empire Angels, Sequoia Capital, and Nokia Growth Partners are existing investors and also took part in the Series B funding round.
Surprisingly, Ford India is the largest supplier of vehicles amongst Zoomcar's fleet. At this moment, Zoomcar operates with 2,000 vehicles in seven cities. The goal of this car rental service provider is to have over 25,000 vehicles on offer by 2018 in 25 cities pan India.
Currently, Zoomcar services are available in Bengaluru, Chandigarh, Chennai, Delhi, Hyderabad, Mumbai, and Pune. A wide variety of vehicles ranging from hatchbacks to SUVs is available on rental basis.
During April 2016, Zoomcar launched their Associate Program, which allows owners to make their vehicles available. Now, private vehicle owners can also offer their vehicles on a rental basis through Zoomcar. This move will help Zoomcar increase their fleet strength in new markets.