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.

For more information on companies in this article

Related Content

  • UK Government funding for driverless and low carbon projects
    April 12, 2017
    The UK Government has awarded US$137 million (£109.7 million) of funding, alongside significant funding from industry, to help develop the next generation of driverless and low-carbon vehicles, as part of the Industrial Strategy and the government’s Plan for Britain. Seven innovative projects will share grants from the latest round of funding from the Advanced Propulsion Centre (APC), the joint industry-government programme to put the UK at the forefront of low carbon vehicle technology. The projects,
    Read More
  • ITS Australia starts countdown to ITSWC2016 in Melbourne
    June 14, 2016
    In just five month’s time, the 23rd ITS World Congress will open in Melbourne, Australia, hosted by ITS Australia on behalf of ITS Asia Pacific, Ertico and ITS America. Susan Harris, CEO of ITS Australia is here in San Jose to promote what promises to be not just an unmissable event, but an important business opportunity for American firms.
    Read More
  • Ford and Toyota announce hybrid and telematics collaboration
    April 18, 2012
    Ford Motor Company and Toyota Motor Corporation have announced they will equally collaborate on the development of an advanced new hybrid system for light truck and SUV customers. The two companies also agreed to work together on enablers to complement each company's existing telematics platform standards, helping bring more Internet-based services and useful information to consumers globally.
    Read More
  • UK to lead the way in testing driverless cars
    July 20, 2015
    The UK government has launched a US$30 million competitive fund for collaborative research and development into driverless vehicles, along with a code of practice for testing. The measures, announced by Business Secretary Sajid Javid and Transport Minister Andrew Jones, will put the UK at the forefront of the intelligent mobility market, expected to be worth US£1.4 trillion by 2025. The government wants bidders to put forward proposals in areas such as safety, reliability, how vehicles can communicat
    Read More

Highlighted Content