Zoomcar, founded by David Back (left) and Greg Moran, rents cars by the hour, day, week, or month. Photo courtesy of Zoomcar.
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.
Founded in 2013, Zoomcar currently operates in six cities across India with over 1,600 vehicles. Zoomcar rents cars hourly, daily, weekly, or monthly. Rentals include various vehicles such as sedans, SUVs, and luxury vehicles.
Ford partnered with Zoomcar to pilot a carsharing project as part of the Ford Smart Mobility Plan. This plan included 25 mobility projects worldwide.
Click here to read the full Tech Story report.