Zoomcar India Pvt. Ltd, a Bengaluru, India-based self-drive car rental startup, raised $40M in Series C funding.
The round was led by Mahindra and Mahindra Ltd (M&M) with participation from existing investors Ford Smart Mobility, Sequoia Capital, Empire Angels, Nokia Growth Partners, and others.
The company, which has raised $85m to date, intends to use the funds to accelerate growth, develop the IoT technology further and expand in India.
Zoomcar is a self‐drive car rental service that allows users to book vehicles and make the payment online. The company provides self-drive cars for rent in 27 cities across India booking online at www.zoomcar.com or via the app.
In 2017, Zoomcar launched ZAP, which is a sharing platform for car owners to share their car when it’s not in use.
The company recently launched PEDL, a technology enabled cycle sharing service with presence in 6 cities & 3000+ cycles.