Ford Contributes More Funding to India’s Zoomcar

Zoomcar, founded by David Back (left) and Greg Moran, rents cars by the hour, day, week, or month. Photo courtesy of Zoomcar.
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. 

Comment On This Story

Name:  
Email:  
Comment: (Max. 10000 characters)  
Please leave blank:
* Please note that every comment is moderated.

 
 

Newsletter: Sign up to receive latest news, articles, and much more.

Read the latest

Auto Focus Blog: A blog covering fleets, auto rental and the business of cars

Safeguarding Your Business with Brokers

While the high-profile bankruptcy of Atlas Choice has left many car rental companies wary of working with brokers, rental companies can take steps to protect themselves and ensure a productive relationship.

My Number One Takeaway from ICRS 2017

This year’s International Car Rental Show (ICRS) opened the door to new business models facing transportation today — yet adapting to these new technologies is not the first key to survival.

Trump and Regulations: An Alt-Fuel View

With 2025 emissions targets back in review, manufacturers, alt-fuel, and alt-power suppliers weigh in on the potential impacts of Trump’s initiatives.

Job Finder: Access Top Talent. Fill Key Positions.

>