Bengaluru: Self-drive car rental platform Zoomcar (ZoomCar India Pvt. Ltd) is in talks to raise around $500 million in a fresh funding round led by automaker Mahindra and Mahindra Ltd, said two people aware of the development. Zoomcar was valued at around $170 million when it closed its Series C round in February 2018. “Zoomcar is in advanced talks to raise up to $500 million of equity and structured debt from leading global financial investors. Users need to locate a Zoomcar vehicle lot within their locality to pick up the vehicle.

Source: Mint April 02, 2019 21:11 UTC