Indian Car Rental Startup ZoomCar Gets $1.6M in Seed Funding
October 07, 2013
ZoomCar, an India-based car rental company, has closed a $1.6 million seed round of funding led by Empire Angels. Also participating in the round were Funders Club, Basset Investment Group and a number of individual investors. The company, similar to Zipcar in the U.S., offers neighborhood-based, membership-only car rental by the hour or by the day. Zoom launched operations in Bangalore with 7 vehicles in February 2013 and has grown to a fleet of 52 vehicles as of October 1. The company offers a mix of vehicles from Ford, Mahindra, Volkswagen and BMW. Graham Gullans, founding managing director of Empire Angels, is joining ZoomCar's Board of Directors.