Private Equity Fund Investments
Car rental co Zoomcar raises $92-M from SternAegis Ventures, others
Bengaluru-based car rental marketplace Zoomcar has raised USD 92 million in a Series E round led by New York-based SternAegis Ventures, with participation from international family offices and several institutional investors. It will use the proceeds to grow its car-sharing marketplace in India and select markets across Asia and the Middle East and North Africa (MENA) region. The company will also strengthen its enterprise software offerings to OEMs and insurance companies. Founded by Greg Moran and David Back, Zoomcar allows users to rent cars on hourly, daily, weekly or monthly basis. Employing over 300 people, it operates in over 50 cities across India. The company claims to have over 7,000 cars on its platform with a presence across five nations.
From the Venture Intelligence PE-VC Deal Database: Between Oct-14 and Dec-20, Zoomcar raised funding from Sequoia Capital India, Sony Innovation Fund, Mahindra Partners, BlackSoil Capital, Trifecta Capital, Nokia Growth Partners, Cyber Carrier, Reliance Venture, InnoVen Capital, Aarin Capital, and others.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
