Zoomcar Raises INR 55 Cr From Parent Entity, WeWork India CEO

Zoomcar Raises INR 55 Cr From Parent Entity, WeWork India CEO

SUMMARY

The company has raised INR 48.47 Cr from its parent entity Zoomcar Inc

The company has raised over INR 120 Cr this year

Zoomcar had also tied up with Volkswagen this year

Bengaluru-based rental car service Zoomcar has raised INR 55.7 Cr mix of debt and equity from its US-based parent entity Zoomcar Inc and WeWork India head Karan Virwani. While the parent entity bought shares worth INR 48.47 Cr, Virmani paid INR 7 Cr loan.

According to the Ministry of Corporate Affairs filings accessed by Inc42, the company had passed a resolution to allot 97,604 equity shares to the parent entity for INR 4,956 per share, on October 4. The company had also raised equity infusion from the parent company in September and July this year.

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