
Total amount raised
$303.5 Millions
Latest funding date

Location
Zoomcar has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The platform offers a marketplace for car sharing in emerging markets, including India, Southeast Asia, and Egypt.
Keep reading to explore the intricacies of Zoomcar's fundraising journey and the investors backing this innovative platform.
What Is Zoomcar?
Zoomcar, founded in 2013 by David Back and Greg Moran, is headquartered in Bangalore, Karnataka, India. The company operates a marketplace for car sharing across India, Southeast Asia, and Egypt.
Zoomcar allows users to rent self-drive cars, offering a variety of vehicles from hatchbacks to SUVs. Car owners can list their vehicles on the platform to earn additional income.
With a workforce of 251-500 employees, Zoomcar continues to expand its services, providing memorable driving experiences for its users.
How Much Funding Has Zoomcar Raised?
- Round Name: Corporate Round
- Amount Raised: $4.8M
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance the technology platform.
- Round Name: Series D
- Amount Raised: $30M
- Date: January 2020
- Lead Investors: Sony Innovation Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Round Name: Venture Round
- Amount Raised: $4M
- Date: February 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support working capital needs and general corporate purposes.
- Round Name: Series E
- Amount Raised: $75M
- Date: March 2021
- Lead Investors: SternAegis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth and expand the fleet of vehicles.
- Round Name: Corporate Round
- Amount Raised: $5.5M
- Date: May 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and improve user experience.
- Round Name: Series E
- Amount Raised: $17.6M
- Date: July 2021
- Lead Investors: SternAegis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new geographic markets.
- Round Name: Debt Financing
- Amount Raised: $10M
- Date: October 2022
- Lead Investors: Ananda Small Business Trust
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage debt and support operational expenses.
- Round Name: Convertible Note
- Amount Raised: $21.3M
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To convert debt into equity and strengthen the balance sheet.
- Round Name: Post-IPO Equity
- Amount Raised: $3.6M
- Date: June 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing expansion and operational needs.
- Round Name: Post-IPO Equity
- Amount Raised: $9.2M
- Date: November 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To repay debt and for general corporate purposes.
Total Amount Raised: $181M. Current Valuation: Not publicly disclosed.
Key Investors
- Sony Innovation Fund
- Details: Sony Innovation Fund is the corporate venture capital arm of Sony Corporation. It focuses on investing in early-stage startups that align with Sony's strategic interests.
- Investment Focus Areas: Technology, entertainment, healthcare.
- Notable Investments: Spiber, Cogitai, Moth+Flame.
- SternAegis
- Details: SternAegis is a private investment firm that provides capital to growth-stage companies. They are known for their strategic investments in various sectors.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Not publicly disclosed.
- Ananda Small Business Trust
- Details: Ananda Small Business Trust is an investment trust focused on supporting small and medium-sized enterprises. They provide both financial and strategic support to their portfolio companies.
- Investment Focus Areas: Small businesses, emerging markets, sustainable development.
- Notable Investments: Not publicly disclosed.
What's Next for Zoomcar?
Zoomcar's recent $9.15 million fundraising round opens up significant opportunities for the company. With a portion of the funds allocated to debt repayment, Zoomcar can stabilize its financial health, allowing it to focus on expanding its market presence and enhancing its fleet. The remaining capital will support general corporate purposes and working capital needs, positioning the company to seize growth opportunities in emerging markets.
Future fundraising prospects look promising, especially with the issuance of Series A and Series B warrants, which could bring in additional capital. However, Zoomcar must navigate challenges such as managing debt and staying competitive in a rapidly evolving market. Economic fluctuations and changing consumer behaviors also pose potential hurdles. Nonetheless, with strategic investments and a focus on operational efficiency, Zoomcar is well-positioned for continued growth.
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