<ul><li><keyword id="6368965" type="UNKNOWN" weightage="20" keywordseo="zoomcar">Zoomcar</keyword> is partnering with <keyword id="6433699" type="UNKNOWN" weightage="20" keywordseo="Ixigo">Ixigo</keyword>, an online travel booking service, to reach its 130 million users. </li><li>Co-found of Ixigo Rajnish Kumar predicts that car rentals with be "one of the biggest travel trends this year." </li><li>The partnership will help Zoomcar meet its goal to double the demand of its services by the end of the current fiscal year. </li></ul>Zoomcar, a self drive car rental service, just announced that it's partnering with Ixigo reach more users while betting on car rentals to be a travel trend this year. The partnership will give Zoomcar access to <a href="https://www.businessinsider.in/50-of-indias-travel-to-beonline-by-2020-ixigo/articleshow/49060256.cms">Ixigo</a>'s 130 million users as well as the latter's 200 million monthly travel searches as users plan their vacation. "Indian travellers are increasingly opting for a holistic and exclusive vacation experience making on-demand car rentals one of the biggest travel trends of the year," stated Co-founder of Ixigo Rajnish Kumar. Zoomcar has 10,000 cars with plans to expand its fleet to 25,000 cars by the end of year. It also plans to double the demand for its services by the end of the current fiscal. Currently, <a href="https://www.zoomcar.com/bangalore/">Zoomcar</a> has 4.8 million users and clocks over 3,000 rides daily. As an incentive, Zoomcar is also offering a launch discount of 20% on bookings through Ixigo. Users can book a Zoomcar for an hour, a day, a week or even a whole month. Car rentals in India While the market for car rentals in India is growing, it's not quite mainstream yet. "Such collaborations, we believe, will pave the way for the mainstreaming of alternative mobility services, ensuring that users get a seamless experience," said Greg Moran, CEO and Co-Founder of Zoomcar. Last year, Zoomcar raised $40 million through Series-C round headed by Mahindra and Mahindra Limited. Sequoia Capital, Empire Angles and Nokia Growth Partners are also a part of the investor portfolio. "We are looking at closing the Series D round by the second half of this year," Moran told<a href="https://www.cnbctv18.com/auto/zoomcar-allows-users-to-try-electric-vehicles-at-short-term-rentals-says-ceo-greg-moran-4052071.htm"> CNBC TV18,</a> Zoomcar started off by owning the cars that it was renting out but switched over an asset light model when it realised that the maintenance and and owning costs were having a heavy impact on its margins. So, the company introduced peer-to-peer (P2P) marketplace called 'ZAP' where users can put up their own cars to be rented by other users on the platform. Even so, Zoomcar registered ₹116 crore in loss during last fiscal year's earnings, according to its financial data filed with the Registrar of Companies. But its revenue also showed a yearly growth of 31% from ₹120 crore in FY17 to ₹158 crore in FY18. Zoomcar is also pushing electric vehicles (EVs) on its platform in partnership with Tata Tigor expressing its support for the Indian government's <a href="https://www.businessinsider.in/india-now-plans-to-make-evs-comprise-15-of-all-vehicles-sales-by-2023/articleshow/65717759.cms">initiative</a> to convert all vehicles to EVs by 2030. See also: <a href="https://www.businessinsider.in/ola-will-race-zoomcar-in-self-drive-car-rentals-with-a-500-million-bet/articleshow/68614269.cms">Ola will race Zoomcar in self-drive car rentals with a $500 million bet</a> <a href="https://www.businessinsider.in/self-drive-car-in-india-will-supersede-high-volume-sales-of-cars-heres-how/articleshow/60100149.cms">Self-drive car in India will supersede high volume sales of cars. Here's how.</a> <a href="https://www.businessinsider.in/flipkart-amazon-zomato-partner-with-delhi-government-to-deliver-via-electric-vehicles/articleshow/69968501.cms">Flipkart, Amazon, Zomato and others partner with Delhi government to deliver via electric vehicles</a>

Zoomcar eyes a shortcut to 130 million users — partners with Ixigo

<ul><li>Shell Ventures, CRED’s <keyword id="192201" type="PERSON" weightage="20" keywordseo="Kunal-Shah">Kunal Shah</keyword>, Spotify India’s CEO Amarjit Singh Batra also participated in the round.</li><li><keyword id="3269053" type="PERSON" weightage="20" keywordseo="Rapido">Rapido</keyword> plans to use this funding to onboard 50 million new users in the next 18 months.</li><li>The company claims to have over 1.5 million driver partners, serving 15 million users</li></ul>Japanese motorcycle manufacturer <keyword id="48197" type="COMPANY" weightage="20" keywordseo="Yamaha">Yamaha</keyword> has participated in bike taxi platform Rapido’s latest $52 million funding round. The Bengaluru-based startup plans to use this funding to onboard 50 million new users in the next 18 months. Several new investors participated in the round such as Shell Ventures, CRED’s founder Kunal Shah, Spotify India’s chief executive Amarjit Singh Batra and Positive Moves Consulting. Existing investors Hero group’s Pawan Munjal, Hero Group, <keyword id="563236" type="ORGANIZATION" weightage="20" keywordseo="WestBridge">Westbridge</keyword>, Nexus Ventures and Everblue Management also participated in the round. A part of the funding would be further used to invest in cutting edge technology and innovation, hiring talent and fueling its growth across the country. “Today, Rapido is the largest bike taxi player in the country operating in around 100 cities. Even though our product and business model are lucrative and have the potential to churn out an exceptional revenue, this fundraising indicates more of the investors’ confidence in us than the need for capital,” Rapido’s cofounder Aravind Sanka said. Founded in 2015 by Sanka, Pavan Guntupalli and SR Rishikesh, Rapido is a bike taxi service that is spread across 100 cities in India. The platform claims to have over 1.5 million captains, known as driver partners on the platform, serving over 15 million customers. The company largely offered business-to-customer (B2C) services until last year. However, the COVID-19 pandemic pushed the company to try out other business models as well in order to keep the cash flow running while customers moved to a work-from-home setting during nationwide lockdown. Rapido started expanding its business-to-business (B2B) offering (launched in 2018) last year, under which it offers last-mile logistics service to retail stores, e-commerce players and restaurants. It also launched Rapido Stores last month to allow both online and offline businesses to deliver products to the customers. It claims to have witnessed a strong business recovery of 85% as compared to pre-covid. Rapido has raised $130 million in funding to date from several marquee investors like Westbridge AIF, Nexus Ventures, Sabre Investment, Skycatcher LLC, BAce Fund, Integrated Growth Capital, among others. The startup was a competitor to another Bengaluru-based bike rental startup Bounce, which decided to move to an electric vehicle (EV) manufacturing mode last year. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/with-pharmeasy-mobikwik-and-ixigo-all-set-to-hit-the-public-market-orios-plans-to-go-deeper-into-pre-ipo-bets/articleshow/85359703.cms">With PharmEasy, MobiKwik and ixigo all set to hit the public market, Orios plans to go deeper into pre-IPO bets</a> <a href="https://www.businessinsider.in/business/auto/news/tamil-nadu-government-is-upset-about-losing-money-on-luxury-cars/articleshow/85322536.cms">Tamil Nadu government is upset about losing money on luxury cars</a> <a href="https://www.businessinsider.in/business/startups/news/india-now-has-four-edtech-unicorns-byju-unacademy-eruditis-upgrad/articleshow/85300757.cms">From Byju’s to Eruditus — India now has four edtech unicorns, thanks to a $4 billion funds flowing in since 2020</a>

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Zoomcar eyes a shortcut to 130 million users — partners with Ixigo

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Yamaha invests in bike taxi startup Rapido’s $52 million funding round

Kritti Bhalla