Predict your next investment

Angel Investor (Individual)

See what CB Insights has to offer

Investments

2

About Rajkumar Elango

Rajkumar Elango Headquarter Location

Predict your next investment

The CB Insights tech market intelligence platform analyzes millions of data points on venture capital, startups, patents , partnerships and news mentions to help you see tomorrow's opportunities, today.

Latest Rajkumar Elango News

Self-drive car rental service Zoom secures over $1.6M in seed funding led by New York-based Empire Angels

Oct 2, 2013

BY  Sainul K Abudheen In July this year, Bangalore-based angel investor Rajkumar Elango had invested $200,000 in Zoom. Bangalore-based ZoomCar India Pvt Ltd, which runs a membership-based, self-drive car rental service Zoom , has secured more than $1.6 million in a seed round of funding, led by New York-based Empire Angels with participation of existing investors to scale up its fleet as well as develop technology. Other investors who put in money in this round include San Francisco-based VC firm Funders Club, Basset Investment Group and a few other individuals, including earlier investors such as former US SEC Commissioner Lady Barbara Judge. “We have had a rolling close, with over $600,000 having been raised previously and almost $1 million raised now. Our investors are spread across India, the US, the UK, France, Spain, Belgium, Germany, Austria, Singapore, Panama and Australia,” Zoom co-founder David Back told Techcircle.in. In July this year, Bangalore-based angel investor Rajkumar Elango had invested $200,000 in Zoom. Former US Treasury Secretary and former Director of the US National Economic Council Larry Summers is also an investor in the firm. Zoom was founded by two Americans David Back and Greg Moran as an India-focused venture under the US-based parent Zoomcar, Inc. It launched operations in Bangalore with seven vehicles in February this year and has now grown to a fleet of 52 vehicles. Zoom operates a mix of BMWs, Ford Figo, Mahindra Scorpio, Volkswagen Vento and Mahindra Reva E2O vehicles and charges customers on hourly or daily basis. The rental starts at Rs 199 per hour or 1,999 per day for Reva E2O, while it is Rs 999 per hour or 9,999 per day for BMW 3-series. These rates cover the entire trip, including fuel, insurance, roadside assistance and tax. Zoom also provides in-car navigation, including real-time traffic updates, assistance in locating parking and location-based service apps at no additional charge. The firm also offers 35 per cent discount on all vehicles, including BMWs, from Monday to Thursday. Currently, Zoom has five vehicle locations around Bangalore. (Edited by Joby Puthuparampil Johnson) Empire Angels Empire Angels is a group of angel investors in New York. The firm seeks to invest in early stage, capital efficient companies lead by dedicated founders with a clear target market and initial user engagement. It seeks to invests information technology and financial services sectors. The firm typically invest between $0.05 million to $0.15 million in both seed and series A rounds. Head office:

Rajkumar Elango Investments

2 Investments

Rajkumar Elango has made 2 investments. Their latest investment was in Zing Ecommerce as part of their Angel on July 7, 2013.

CBI Logo

Rajkumar Elango Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

7/9/2013

Angel

Zing Ecommerce

Yes

1

6/24/2013

Angel

Subscribe to see more

Subscribe to see more

10

Date

7/9/2013

6/24/2013

Round

Angel

Angel

Company

Zing Ecommerce

Subscribe to see more

Amount

New?

Yes

Subscribe to see more

Co-Investors

Sources

1

10

Discover the right solution for your team

The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution.

Request a demo

CBI websites generally use certain cookies to enable better interactions with our sites and services. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. You can read more about your cookie choices at our privacy policy here. By continuing to use this site you are consenting to these choices.