zoomcar-cmn

Online self-drive car rental company has appointed Rajesh Bysani as chief product officer. At the company, Bysani will be responsible for product innovation, expansion into new markets. He has experience of more than 10 years of working with start-ups in the country.

Most recently, he led product and growth at FreeCharge. Prior to that, Bysani was the AVP – Products at redBus where he was led the B2C product & helped launch the mobile  strategy. He will work out of the Zoomcar headquarter office in Bangalore.

Last month, Zoomcar raised $24 million in Series B funding led by Ford Smart Mobility LLC with participation from existing investors Sequoia Capital, Nokia Growth Partners and Empire Angels. Zoomcar said it would use the funds for scaling its Zoomcar Associate Program (ZAP), the marketplace model and on technology. It will also target a fleet size of 25,000 cars across 25 cities by 2018 and add to its current airport offerings. The ZAP program will account for 75% of its overall vehicle inventory by early 2017.

The company launched the ZAP program in April this year which would allow Zoomcar’s users as well as other individuals buy one or more vehicles and lease them to Zoomcar and operate on a revenue sharing model. At the time, Greg Moran, co-founder and CEO of Zoomcar, told MediaNama that Zoomcar could scale this model to over 100,000 cars over the next 3 years. In July last year, Moran said that a majority of its cars were owned by the company, while the rest were attached from local operators.

As of August, Zoomcar claimed to have around 2,000 cars across Bangalore, Pune, Chandigarh, Chennai, Hyderabad, Mumbai and Delhi NCR, with above 75% occupancy.  It also claims to have done 12 million kms in travel and has 1.5 million app downloads.