Zoomcar raises $92 million from SternAegis Ventures, others

Carsharing marketplace Zoomcar on Monday said it completed a USD 92 million private placement led by New York City-based SternAegis Ventures with participation from international family offices and institutional investors.

SternAegis acted as the exclusive placement agent for this offering and ThinkEquity acted as special advisor, a statement said.

Zoomcar intends to use the proceeds from this financing to grow its car sharing marketplace in India and various select markets across Asia and the MENA (Middle East and North Africa) region, it added.

The company will continue to invest in its advanced engineering and data science platform enabling it to strengthen its market leadership in global car sharing, it added.