Zoomcar, a self-drive car rental company offering car sharing services has closed $24M in a Series B investment round. Ford Smart Mobility LLC, a subsidiary of Ford Motor Company, led…
Self-drive car rental company, Zoomcar has launched what is India’s first autorickshaw rental service and is testing grounds with a pilot run across six cities, the company announced on Twitter.
While the government may be a laggard in providing an inter-linked driver information platform for self-drive companies to leverage, these startups are nonetheless proactively devising solutions to improve road safety across Indian cities.
The service will eliminate the need for customers to travel to designated Zoomcar pickup/drop points. Executives will drop the car off at a customer’s choice of location and pick it up on their return. The move is in line with the company’s aim to improve customer convenience and grow its user base.
The company plans to use the funds to add new vehicles to its fleet, continue hiring, and build out its tech and product. Over the next one year, the company plans to add 7,000 cars and launch in 15 additional cities in the country. Further, Zoomcar is also working on commute packages that give office goers an economic self-drive option to use its service on weekdays.
Bangalore-based Zoomcar is backed by investors like Sequoia Capital and angel investors such as Lady Barbara Judge and former Infosys director Mohandas Pai.
Nano (like any other Tata Motors car) has finally found its utility in rental/cab model.