Bangalore based self-driving car rental service Zoomcar has partnered with Tata Motors to add 50 Nano cars to its existing fleet of 700. The company said that the Nano cars will be split between Pune and Bangalore. It currently offers cars like the Ford Ecosport, Tata Safari, Mercedes GLA and Honda City among others which lets customers rent them across Bangalore, Pune and the Delhi-NCR region.
Zoomcar co-founder Greg Moran mentioned that they expect the demand for the newly added Nano cars to be high as these cars are easy to park, which has become an essential requirement in most Indian cities. It is interesting to note that Zoomcar also offers the electric Mahindra Reva E20 on rent in Bangalore.
As of October last year, when it had raised $8 million from Sequoia Capital, former Infosys CFO Mohandas Pai, Manipal Group’s head of corporate affairs Abhay Jain and others, Zoomcar had a fleet of 250 cars and had plans of increasing it to 1500. The company also plans to expand to other cities eventually.
The company had previously raised $1 million seed funding from Empire Angels, Funders Club, Basset Investment Group, Lady Barbara Judge and other angel investors in October 2013. Prior to that, the company had raised $650,000 across several angel rounds. This includes a $200,000 investment from angel investor Raj Kumar Elango in July 2013, a $30,000 funding from former US treasury secretary Larry Summers and a $215,000 funding round from Empire Angels, Lady Barbara Judge and other angel investors in May 2013.
Founded by Greg Morgan and David Back in 2013, Zoomcar was part of Microsoft Ventures Accelerators first Accelerator Plus batch that graduated in May last year.
Competition: Carzonrent, which also offers self driven rentals in Bangalore, Delhi, Goa, Hyderabad and Mumbai, is Zoomcar’s primary competitor. Last year, the company had partnered Mahindra Reva to offer Mahindra Reva e2o as a self drive car option in Delhi, Mumbai and Bangalore.