Zoomcar
Zoomcar runs a peer-to-peer car-sharing marketplace in India, matching individual vehicle owners (Hosts) with renters who book self-drive cars by the hour, day, week or month. It takes a commission on each booking and owns no fleet, having shifted from an owned-fleet rental model after COVID-19. As of March 31, 2026 the platform carried roughly 33,400 registered Host vehicles and about 2.5 million active Guests. Zoomcar listed on Nasdaq via a SPAC merger in December 2023 and has traded over-the-counter since May 2025. Operations in Vietnam, Indonesia and Egypt were discontinued by 2024, leaving India as its only market.
Public Company
Zoomcar is publicly traded
IPO'd on Dec 28, 2023
This company is no longer available on our private secondary market. Shares can be traded publicly under its listed ticker.
Overview
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2013
Employees
51–200
Total Funding
$206.6M
9 rounds
Last Private Valuation
$0.17B
Feb 16, 2018
Secondary Signals (Note: SetterVC does not verify the accuracy of these)
2 signalsClosed sixth tranche of Series A Convertible Preferred private placement, raising $155K; offering extended to Oct 9, 2026.
Small, recurring dilutive tranches signal continued cash need and mounting share-count dilution.
Restructured $6M ACM judgment, settled Reimer shareholder suit via 39M-share issuance, and secured note-holder standstills through Sept 2026.
Signals balance-sheet distress and rising dilution risk for secondary holders.
Funding
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Total raised $206.6M across 9 rounds
Last updated 09-25-2026
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| Dec 28, 2023 | SPAC / de-SPAC merger (Innovative International Acquisition Corp; Nasdaq: ZCAR) | Net cash minimal (heavy SPAC redemptions); not separately disclosed | — | Innovative International Acquisition Corp |
| Oct 19, 2022 | Convertible note — Ananda Small Business Trust Press release | $10M | — | Ananda Small Business Trust |
| Nov 8, 2021 | Series E TechCrunch | $92M | — | SternAegis Ventures |
Leadership
Deepankar Tiwari
Chief Executive Officer
Sachin Gupta
Chief Financial Officer
Uri Levine
Chairman of the Board
Vishal Ramrakhyani
Senior Vice President & Head of Technology
Competitors
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Revv
Indian peer-to-peer car-sharing and subscription platform; competing on convenience, customer loyalty, and subscription offerings.
Myles
Car subscription and self-drive rental service in India; focuses on providing vehicles without ownership complexity.
Ola Drive
Car rental service by Ola; offers self-drive car rentals similar to Zoomcar.
Drivezy
Peer-to-peer car and bike sharing platform in India; offers short-term and long-term vehicle rentals.
SelfDrive
Car rental service provider in India; offers daily, weekly, and monthly rentals plus EV and corporate fleet subscriptions.
BluSmart
Indian ride-hailing and car-sharing platform; emerging competitor in India's mobility space.
Zoomcar Investment FAQ
Zoomcar FAQ
Zoomcar began trading on Nasdaq on December 29, 2023 after completing its business combination with Innovative International Acquisition Corporation, a deal struck at an implied pro forma enterprise value of about $456M and closed after 98.7% of IOAC's remaining public shares were redeemed. A Nasdaq hearings panel determined on May 6, 2025 to delist the common stock and public warrants for failing continued listing standards; the securities have traded on the OTC Markets Group platform since May 8, 2025, with the common stock quoted on the OTCQB under ZCAR, and the company remains an SEC reporting company. Zoomcar is working through a financial restructuring of its debt and warrant overhang, announcing on May 27, 2026 that it had cleared the principal remaining items, and its FY2026 annual report states that existing cash supports operations only through September 30, 2026 with substantial doubt about its ability to continue as a going concern.
Zoomcar shares can be purchased through any standard brokerage account — including Fidelity, Charles Schwab, TD Ameritrade, and online platforms like Robinhood or E*TRADE. Search for the ticker to place an order.
Zoomcar went public in Dec 28, 2023 via ipo, with an offering valuation of approximately $0.17B. Zoomcar began trading on Nasdaq on December 29, 2023 after completing its business combination with Innovative International Acquisition Corporation, a deal struck at an implied pro forma enterprise value of about $456M and closed after 98.7% of IOAC's remaining public shares were redeemed. A Nasdaq hearings panel determined on May 6, 2025 to delist the common stock and public warrants for failing continued listing standards; the securities have traded on the OTC Markets Group platform since May 8, 2025, with the common stock quoted on the OTCQB under ZCAR, and the company remains an SEC reporting company. Zoomcar is working through a financial restructuring of its debt and warrant overhang, announcing on May 27, 2026 that it had cleared the principal remaining items, and its FY2026 annual report states that existing cash supports operations only through September 30, 2026 with substantial doubt about its ability to continue as a going concern.
Zoomcar raised $206.6M across 9 disclosed funding rounds prior to its public listing.
Zoomcar is headquartered in Bengaluru, India.
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