Startup sounds like an easy word to hear but a real tough task for those who drive it and I face the pressure of it every day. Not all startups succeed and interestingly each startup knows from the beginning that it may succeed or it may fail but they keep working relentlessly day and night putting best of their energy with a strong and positive aspiration towards success. Similar is a Startup Zoomcar which started with a vision and is on the verge of achieving their goal of success. I congratulate you Zoomcar on this major investment break and I wish you best of luck on the path to go. May you achieve the success you deserve and keep moving.
ZoomCar, a self-drive-focused car rental company that allows individuals to rent vehicles is a startup founded in 2012 by David Back and Greg Moran backed by young spirited souls. While I don’t know their share of story as a beginner but one thing is certain that it would surely have been a rough ride during the initial journey when they started starting form procurement, convincing end users and car owners, finalizing insurance system, adhering to compliance etc..
To keep the story short, they have just been funded by Ford Smart Mobility with US$24 million i.e. ₹170 crores. Thats on a higher side for a Indian Startup business. Including previous fundings, this makes they total founding values to US$45.2 million.
They have achieved this funding value in 5 rounds
Apr, 2013 $600K as Convertible Note
Oct, 2013 $1.6 Million from Seed Funding – Lead Investor -> Empire Angels
Oct, 2014 $8 Million from Series A – Lead Investor -> Sequoia Capital
Jul, 2015 $11M from Venture – Lead Investors -> Sequoia Capital and Empire Angels
Jul, 2016 $24M from Series B – Lead Investor -> Ford Smart Mobility
They took the hard bites initially but never gave up and acted smart and gave the right service which gradually built confidence amongst investors and helped make their venture successful. Zoomar, you not only achieved success but have provided an example of positivity and progress to the entire Startup community. Have a Happy Journey!