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Sequoia-Backed Zoomcar Eyes U.S. Listing as Travel Reawakens

Zoomcar Inc. is considering a listing in the U.S. within 12 months to tap markets beyond its home base of India and as coronavirus-related health concerns bolster demand for car rental.

“There’s a lot of momentum in the public markets for this type of story,” Zoomcar Chief Executive Officer and co-founder Greg Moran said in an interview on Friday, adding that a listing via a blank-check firm or special purpose acquisition company was also a possibility. “We’ve been at it now for a long time so it’s only fair to want to bring liquidity into the system for early investors.”

Established in 2013, Zoomcar allows users to rent cars by the month, week, day or even hour. As Covid-19 ebbs in some parts of the world, more people are willing to travel but want to avoid public transport. The Bangalore-based group expects to generate over $100 million in revenue this fiscal year through March, a figure that will more than double next year to about $203…

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