India’s ZipCar-Inspired Zoom Raises an Additional $1 Million
$1 million doesn’t go far when you need to buy lots of cars, but it may be enough to demonstrate if the short-term rental business will take off in India’s big cities.
Excerpt from Tech in Asia
Self-drive car rental service Zoom has revealed today that it now has an extra $1 million in seed funding to accelerate its business. Now Zoom has raised a total of $1.6 million in early-stage investments.
Zoom is currently restricted to car pick-ups in Bangalore and has 52 vehicles available, so it’s still early days. It has apps – though fairly basic ones – for iOS and Android that can show you nearby cars for rent.
… The Bangalore-based startup’s newest haul of seed funding was led by New York-based Empire Angels, with some participation by earlier investors.