Zoomcar, a self-drive car rental company in India, received Rs. 160 crore (USD $24 million) in funding led by Ford Smart Mobility. Zoomcar's existing investors such as Sequoia Capital and Nokia Growth Partners also participated. The self-drive car rental market in India is growing rapidly at a CAGR of 35% and is projected to be worth Rs. 800 billion by 2019. Several startups like Zoomcar, Myles, JustRide, and Revv have emerged to capitalize on this growing market by integrating new technologies into their fleets. The untapped potential of tier 2, 3 cities is expected to further drive the growth of online self-drive car rent

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Zoomcar receives funding of Rs 160 crore
Self-drive car rental company Zoomcar has received funding of Rs 160 crore ($24 million) in a
deal led by Ford Smart Mobility, a subsidiary of Ford Motor Company. The company's existing
investors Sequoia Capital, Nokia Growth partners and Empire Angels also participated in this
deal round.
eTailing India Thought Corner
Growth of Self-Drive car rental startups
With over 40 million vehicles on the roads, the Indian automotive industry is one of the largest
in the world, accounting roughly 7% of the country’s GDP. Car rental industry registered a
growth of 16% in current value terms in 2015 as more consumers seek to drive on their own.
According to a report by Ken Research, by 2019, the Indian car rental market’s revenues will be
Rs.800 billion and Self-Drive Car Rental market is projected to grow at CAGR of 35% in terms of
revenue.

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Self-drive option is always cheaper than a chauffeur driven car. To make things easier, online
car rental companies have integrated latest technologies like Driver Behavior Monitoring
(DBM), and On-Board Diagnostics (OBD) in their cars.
Here are some of its players:
ZoomCar
Some of the Investors: Ford Smart Mobility, Globevestor, Nokia Growth Partners (NGP),
Microsoft Accelerator, Sequoia Capital, Reliance Venture Asset Management, Mohandas Pai
Available Cities: Mumbai, Pune, Bangalore, Hyderabad, New Delhi, Chennai, Chandigarh
Fleet Size: 2,000
Myles
Some of the Investors: Carzonrent (Parent company of Miles)
Available Cities: Ahmedabad, Amritsar, Bangalore, Bhubaneshwar, Chandigarh, Chennai,
Coimbatore, Delhi, Ghaziabad, Goa, Gurgaon, Hyderabad, Jaipur, Mangalore, Mumbai, Mysore,
Noida, Pondicherry, Pune, Udaipur, Visakhapatnam
Fleet Size: 1,300
JustRide
Some of the Investors: Alok Mittal, Palaash Ventures,Y Combinator
Available Cities: Mumbai, Pune, Bangalore, Noida
Fleet Size: 350

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Revv
Some of the Investors: Ananth Narayanan, McKinsey & Company
Available Cities: Delhi-NCR,Hyderabad, Bangalore, Chandigarh
Fleet Size: 300
“The Indian market is completely different compared to how self-drive has grown anywhere
else,” quoted Myles Founder and CEO Sakshi Vij. Online car rental space is expected to drive
growth, although the offline channel will continue to dominate in terms of total value sales. The
opportunity is big because of untapped consumers from tier 2, 3 and other cities.
Even with the emergence of sharing economy in automobile space, the car rental will continue
to flourish as more buyers will congregate the self drive car rental space.
To imbibe the best advices and strategies for setting up a Start-up and know the very intricacies
of Funding, eTailing India will be hosting one of a kind ‘Retail & Ecommerce Conference &
Exhibition’ on 2nd September, 2016 at The Lalit, New Delhi. Sharing expert opinion and specific
insights from the industry, the conference will feature following names: Anirudh Suri (India
Internet Fund), Prajakt Raut (Applyifi & The Hub for Startups), Rahul Narvekar (The India
Network).
Image Courtesy : http://www.thehindu.com/news/cities/mumbai/renting-luxury-cars-offers-
mumbaikars-privacy-and-cost-effectiveness/article7924059.ece