Zipcar in peer-to-peer car sharing

International car sharing network Zipcar has announced it is the lead investor in a US$13.7 million Series A round of funding for Wheelz, which claims to be the first peer-to-peer (P2P) car sharing company targeting college campus communities. “Based on our analysis and primary research, we believe P2P could expand the total addressable market for car sharing,” said Zipcar chairman and CEO Scott Griffith, who added he believes Wheelz has the right leadership, technology and business model to succeed in the
June 21, 2012 Read time: 2 mins
International car sharing network 3874 Zipcar has announced it is the lead investor in a US$13.7 million Series A round of funding for 5975 Wheelz, which claims to be the first peer-to-peer (P2P) car sharing company targeting college campus communities.

“Based on our analysis and primary research, we believe P2P could expand the total addressable market for car sharing,” said Zipcar chairman and CEO Scott Griffith, who added he believes Wheelz has the right leadership, technology and business model to succeed in the emerging P2P space.

Also participating in the round is Detroit-based 1072 Fontinalis Partners,
a leading transportation technology strategic investment firm. Mark Schulz, 30-year automotive industry veteran, former president for international operations at 278 Ford Motor Company and Founding Partner at Fontinalis, will be joining Scott Griffith on the Wheelz board. Also joining the board is Jim Freer, former vice-chairman of Ernst & Young.

Related Content

  • Karamba Security appoints executives and expands advisory board
    March 29, 2018
    Israel-based cybersecurity provider Karamba Security has appointed two executives to its management team and two automotive industry experts to its advisory board to help meet the market demand for its autonomous and connected car solutions. Guy Sagy, a decorated officer and cyber security architect with Unit 8200, has been appointed security chief technology officer while one of the company’s co-founders, Assaf Harel, is now chief scientist. In addition, Amir Einav has been named vice president of market
    Read More
  • Econolite announce new COO
    October 11, 2016
    Abbas Mohaddes is attending this ITS World Congress Melbourne in his new role as recently appointed president and COO of Econolite Group (EGI) with responsibility for the company’s global operations, including the continued development of strategic partnerships. He succeeds David St Amant, who will retire at the end of the year after a period of working closely together to help ensure a smooth transition of responsibilities, and will report directly to Econolite Group’s CEO Mike Doyle.
    Read More
  • Looking forward to LA 2022
    December 9, 2021
    Next September, the 28th ITS World Congress will return to the US for the first time since 2014 – to Los Angeles, a city that embodies ‘Transformation by Transportation’
    Read More
  • Smart parking to enable intelligent mobility in global mega cities
    June 3, 2015
    New analysis from Frost & Sullivan, Strategic Analysis of Smart Parking Market in Europe and North America, finds that the smart parking market, including peer-to-peer (P2P), earned revenues of US$7.05 billion in 2014 and estimates this to accelerate up to US$43.084 billion in 2025 at a compound annual growth rate (CAGR) of 17.89 per cent. The parking industry in Europe and North America is rapidly innovating towards ‘smart’. In addition to adopting high-end automation solutions and software for parking
    Read More

Highlighted Content