This is not exactly an investment in an online or a digital business, but they do have implications. Sequoia Capital India has invested $7 million in Carzonrent India Pvt Ltd. The company is the exclusive long-term licensee of Hertz in India. It also has an online booking engine, so in a way can compete with the travel portals like Yatra.com which also has bookings for cars, besides buses, airlines and hotels.
Sandeep Singhal, Managing Director, Sequoia Capital India, will be joining the board of Carzonrent India. The company is founded by Rajiv Vij. The investment will help the company expand its services to new cities, and broaden its existing offerings as well as enter into related businesses.
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