On his new role, Varun Jha said, “Zoomcar is at the cusp of a mobility revolution in India. This has also brought enormous problem-solving opportunities for me with regard to supply-demand standpoint.”
Droom has, so far, raised close to $125 million over six rounds of funding. Some of its investors include Lightbox, Beenext, Beenos, Digital Garage, Toyota Tsusho Corporation, Integrated Assets Management, and family office of Japanese based investor Joe Hirao, Founder ZIGExN.
The layoffs at this scale also hints at the possibility of Car24’s strategy to scale down its consumer financing business, which is housed under a separate entity. However, defying this, Vikram Chopra, CEO and Co-Founder, said, “No layoffs have taken place."
Currently the platform has already fund raised around $100 million and is valued at around $500 million. Cars24 hasn't had much difficult finding new funds for the company or any trouble finding large companies to invest in them.