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Zoomcar’s journey:-
Zoomcar was founded by two Americans in 2013 - Greg Moran and David Back. A few years ago, after downing a few beers at a resto-bar in New York the two blew off their fully funded management degrees in America to pursue their entrepreneurial dream of implementing a car-sharing service along the lines of US’ Zipcar, in Asia.
They noticed the transportation issues in India and decided to start Zoomcar, a self-drive car rental business in Bengaluru. Due to infrastructure or economic reasons, car ownership is India is an expensive proposition. Although owning a car comes with a certain snob value, many consider it an unnecessary asset. Zoomcar, thus, offered convenience, flexibility, and easy mobility.
Given the multitude of the Indian mass and their passion for driving, Zoomcar took off soon and quick. The venture allowed people to hire cars by the hour or by the day, and in only a few months the demand was so high that they had to turn away customers due to unavailability of service.
Soon they got the backing of big investors like Sequioa, Nokia and Ford. The result? Zoomcar witnessed a strong user growth and proliferation of new products that significantly improved the user experience. They zoomed right into the Indian car-rental market and began dominating it.
It now has 2000+ rides daily, 20,00,000+ happy customers, 20,00,00,000+ kms travelled and 2200+ cars over 7 major cities. The reason why they haven’t expanded to other tier-2 or tier-3 cities yet is that, in Greg’s own words, “Rather than going far and wide, we like the approach of maintaining a very hyperlocal and dense network in existing cities we operate out of. It is more about enhancing customer experience than simply expanding to other places.”
Some have likened Zoomcar to be the Ola/Uber of self-driven cars.
Projects:-
- As a complement to its self-drive car sharing business, Zoomcar launched India’s first dockless cycle sharing service, PEDL, in November 2017. PEDL has a fleet of over 3,000 cycles in eight cities and has completed more than 4 lakh trips till date
- Recently, Zoomcar and Mahindra Electric partnered to accelerate electric vehicle adoption by launching e2o Plus vehicles on the Zoomcar platform in Hyderabad and Mysore
- Zoomcar is working with Ford to pilot a share-car project in Bangalore, to allow small groups, such as co-workers, apartment dwellers and families, to share a vehicle among them.
Zoomcar - providing cars to self-drive for the self-driven.
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