ZoomCar Closes Seed Round, Has Raised $1.6M
2013-10-04
BANGALORE, INDIA, ZoomCar, India's first and only car-sharing company, has closed its seed-series round of capital, led by NY-based Empire Angels, and has brought its total outside capital raised to $1.6 million.
ZoomCar, a Zipcar-like car-rental service based in Bangalore, India, has closed a seed series round of funding, and with investments led by New York-based Empire Angels, the company has announced a new outside capital total of $1.6 million.
ZoomCar, which counts former US Treasury Secretary Lawrence Summers as an early investor and advisory board member, received funding from the Empire Angels, Funders Club, Basset Investment Group, former SEC Commissioner Lady Barbara Judge, and other investors from the US, Europe, and India.
ZoomCar launched operations in Bangalore in February 2013 with seven vehicles; it has grown its fleet to 52 vehicles as of October 1, 2013, with a mix of cars from Ford, Mahindra, Volkswagen, and BMW.
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