Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter Instagram
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Featured Startups
    • Funding News
    • CEO Interviews
    • Startup Resources
    • Inspiring Stories
    • Submit Startup
      • Pitch VCs
    • More
      • Our Team
      • Advertise
      • Write for us
      • Privacy policy
      • Startup listing
      • Steal The Deal
      • Contact
    Platform to Showcase Innovative Startups and Tech NewsPlatform to Showcase Innovative Startups and Tech News
    Home»Funding News»Zoomcar eyes Massive Expansion with $30 Mn Fresh Funding
    Funding News

    Zoomcar eyes Massive Expansion with $30 Mn Fresh Funding

    Girish ShettiBy Girish ShettiJanuary 21, 2020Updated:October 29, 20202 Mins Read
    Facebook Twitter LinkedIn Email
    Share
    Facebook Twitter LinkedIn Email

    Bengaluru based Zoomcar has started 2020 with a bang after it announced a massive funding round of $30 Mn.  The latest fund infusion in one of India’s popular self-driving car rental startup was spearheaded by Sony Innovation Fund, an venture capital arm of electronic giant Sony.

    Image Source: Youtube.com

    Some existing investors also reportedly took part in the funding round though their names have not been disclosed to the media. Zoomcar’s latest funding round is been widely touted as part of the $100 Mn series D round that began last year. As part of this round itself, the Bengaluru based startup had last raised $4.8 Mn from investors.

    Following the latest infusion of $30 Mn, Zoomcar is now eyeing an extensive expansion program as it looks to ramp up its market share. The company will utilize the funds for expanding footprints across domestic market and for ramping up its technology including data science and IOT. The company also plans to substantially increase its fleet size in the next two years, along with adding new growth avenues like shared subscription model.

    One of the unique propositions is that its both co-founders – David Back and Greg Moran – are both foreign based entrepreneurs. Apart from Zoomcar, both co-founders don’t nurture any strong Indian connection. Above all, the Bengaluru based company has emerged as a poster boy of the self-driving industry. Although it does face competition from many well-funded startups like Drivezy and Revv, none have managed to carve a niche like Zoomcar.

    However, entry of SoftBank backed Ola in self-driving space in October last year should cause some worry for Zoomcar. But as of today, the latter certainly enjoys the envious status of being an incumbent leader in the self-driving industry.

    Zoomcar’s success can also be gauged from its several high profile investors including auto giants Mahindra & Mahindra and Ford.

     

    featured Self Driving Car Rental Startup Self Driving Industry Zoomcar
    Share. Facebook Twitter LinkedIn Email
    Girish Shetti

    Related Posts

    Twitter launches new $5000 API plan for Startups  

    May 26, 2023

    OpenAI may Exit Europe if Regulation Toughens, says CEO Sam Altman

    May 25, 2023

    Netflix kicks off its Password Sharing Feature in U.S & 100 other countries

    May 24, 2023

    WhatsApp finally allows you to Edit Sent Messages

    May 23, 2023

    Leave A Reply Cancel Reply

    Popular Post
    • Why is one Airpod louder than the other- reason and fixes Why Is One Airpod Louder Than The Other- Reason And Fixes
    • Is Real Estate Investment Trusts a Good Career Path Is Real Estate Investment Trusts a Good Career Path? [Complete Guide]
    • advertisement examples 16 Creative Product Advertisement Examples & Ad Campaigns You Must See
    • Places that hire at 15 Places that Hire at 15 Years – Top Choices for Teenagers
    • Pestel Analysis PESTEL Analysis – What it Means and its 6 Factors Explained
    Category Posts
    • how to upload more than 100mb to discord How to Upload More Than 100MB to Discord: Unlocking File Size Limits
    • how to clear spotify queue How to Clear Spotify Queue: Enjoy a Fresh Listening Experience
    • how to stop facebook from scrolling automatically How to Stop Facebook from Scrolling Automatically: Taking Control of Your Browsing Experience
    • how to use depth effect ios 16 How to Use Depth Effect on iOS 16: Unlocking the Power of Visual Depth
    • Twitter launches new $5000 API plan for Startups  
    Our Partners
    Shopping online for Windows tablet - DHgate
    Platform to Showcase Innovative Startups and Tech News
    Facebook Twitter YouTube
    • Popular Posts
    • Advertise
    • Submit A Startup
    • Privacy policy
    • Disclaimer
    © 2023 Techpluto. Designed by Techpluto.

    Type above and press Enter to search. Press Esc to cancel.

    Catch the latest news from Startup World in your Inbox!
    [email protected]