Automaker Mahindra has put in Rs 11.74 crore debt fund in self-drive car rental platform Zoomcar. The startup has been raising debt fund since March from Trifecta, Blacksoil Capital and Mahavir Dwellers and also is in talks for a mega round from Mahindra that may catapult its valuation over $1 billion.
Interestingly, Zoomcar is reportedly looking at a share-swap deal with car and bike rental startup Drivezy. Top investors of both the company most probably will hold stakes in the merged entity. (Source: MCA)
