A few facts about Zoomcar...!

A few facts about Zoomcar...!

Posted by Vivek Nama on November 15th 2016

Presenting a few facts that you didn’t know about Zoomcar.
 
Started in 2011 by Greg Moran & David Back two graduates from University of Pennsylvania.
 
Is India’s biggest app-based car rental service
 
They spent 3 months travelling across India, doing primary research for the start-up idea which was to launch a car rental service in India.
 
To bridge the gap between the fact that there are less number of car owners Vis–a–Vis the travails of public transport.
 
USP- renting out cars for passengers to drive themselves instead of relying on public transport & other Taxi services.
 
Bring in the westernised concept of car rental services in India.
Signed a deal in 2012 with Ramesh Tours and Travels which is owned by the famous rich barber Ramesh,who owns a fleet of  127 cars including the Rolls Royce.
 
First launched the concept in Bangalore , Pune, and then in Delhi.
Zoomcar now operates in 12 cities and plans to be in 25 cities in the next four to five months. 
 
Faced a lot of questions by investors who were worried that he would move back to the US.
 
Had Ford lead a $24m funding investment in the company.
Zoomcar now has Ford, Sequoia Capital, Nokia Growth Partners, and Empire Angels as investors in a span of 3 years. 
 
The company plans to break even by the end of the current fiscal year.
Zap [the marketplace] allows people to buy cars on behalf of Zoomcar, list the vehicle on its platform, and share in the profit on a daily, weekly, and monthly basis. 75 % of the revenue goes to the car owner and 25 percent to Zoomcar. 
Plan to start owning its own fleet of cars through this marketplace model.
 
Plans to make critical investments in car and passenger safety in future.
Roped in Israeli advanced driver assistance systems maker Mobileye to install a warning system in some of the cars in Zoomcar fleet. 
 
Partnered with ICICI Lombard for car insurance coverage.
 
Current fleet size is 2,000 cars & expected to increase to 10,000 cars by the end of 2017, and 25,000 cars by the time 2018 ends.
 
Other countries under consideration for expansion are Indonesia, the Philippines, Nigeria and other African markets.

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