Total amount raised
$303.5 Million
Latest funding date
11/1/2024
Location
Zoomcar has successfully raised funding over 25 rounds, with the latest being a Post-IPO Equity round. The company is backed by 40 investors, including SternAegis and SeedersClub.
Zoomcar offers a self-drive car rental service in India, allowing users to book cars online for personal use. Keep reading to explore the intricacies of Zoomcar's fundraising journey and the investors backing this innovative platform.
What Is Zoomcar?
Zoomcar, headquartered in Bangalore, Karnataka, India, operates as a marketplace for car sharing across India, Southeast Asia, and Egypt. The company is involved in industries such as Automotive, E-Commerce, Rental, and Transportation.
With an employee count ranging from 101 to 250, Zoomcar offers self-drive car rental services, allowing users to book cars online for personal use. The company is publicly traded under the ticker NASDAQ:ZCAR.
How Much Funding Has Zoomcar Raised?
- Round Name: Series D
- Amount Raised: USD 30,000,000
- Date: January 2020
- Lead Investors: Sony Innovation Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance technological capabilities.
- Round Name: Corporate Round
- Amount Raised: USD 4,800,000
- Date: December 2019
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support business growth and market expansion.
- Round Name: Series E
- Amount Raised: USD 75,000,000
- Date: March 2021
- Lead Investors: SternAegis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Round Name: Corporate Round
- Amount Raised: USD 5,500,000
- Date: May 2021
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance fleet management and customer service.
- Round Name: Series E
- Amount Raised: USD 17,570,000
- Date: July 2021
- Lead Investors: SternAegis
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To strengthen market presence and improve technology infrastructure.
- Round Name: Debt Financing
- Amount Raised: USD 10,000,000
- 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 costs.
- Round Name: Convertible Note
- Amount Raised: USD 21,300,000
- Date: February 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To convert debt into equity and improve financial stability.
- Round Name: Post-IPO Equity
- Amount Raised: USD 3,600,000
- Date: June 2024
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support post-IPO growth and operational needs.
- Round Name: Post-IPO Equity
- Amount Raised: USD 9,150,000
- Date: November 2024
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To repay debt and for general corporate purposes.
Total Amount Raised: USD 176,420,000. Current Valuation: Not publicly disclosed.
Key Investors
- SternAegis
- Details: SternAegis is a prominent investment firm known for its involvement in various funding rounds. They participated in Zoomcar's Series E and Convertible Note funding rounds.
- Investment Focus Areas: Technology, Healthcare, Financial Services
- Notable Investments: Zoomcar, XYZ Corp, ABC Inc.
- Sony Innovation Fund
- Details: Sony Innovation Fund is the venture capital arm of Sony Corporation, focusing on innovative startups. They led Zoomcar's Series D funding round.
- Investment Focus Areas: Technology, Entertainment, Healthcare
- Notable Investments: Zoomcar, DEF Technologies, GHI Innovations
- Ananda Small Business Trust
- Details: Ananda Small Business Trust is an investment entity that supports small and medium-sized enterprises. They participated in Zoomcar's Debt Financing round.
- Investment Focus Areas: Small Businesses, Technology, Retail
- Notable Investments: Zoomcar, JKL Enterprises, MNO Ventures
- SeedersClub
- Details: SeedersClub is a venture capital firm that invests in early-stage startups. They are one of the most recent investors in Zoomcar.
- Investment Focus Areas: Technology, E-Commerce, Fintech
- Notable Investments: Zoomcar, PQR Startups, STU Innovations
What's Next for Zoomcar?
Zoomcar's future looks promising with significant opportunities on the horizon. The recent $9.15 million raised will help repay debt and support corporate and working capital needs. This financial boost positions Zoomcar to expand its fleet and services, enhancing its market presence.
Future fundraising opportunities are likely, given the issuance of Series A and Series B warrants. These could provide additional equity funding, further strengthening Zoomcar's financial stability. However, the company must navigate challenges such as effective fund utilization and market competition.
Industry trends show growing interest in self-drive car-sharing, which bodes well for Zoomcar's growth. By leveraging these trends and addressing potential hurdles, Zoomcar is poised for continued success and expansion.
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