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

  • In-car electronics and user demand for connectivity make case for automotive Ethernet
    January 22, 2014
    According to Frost and Sullivan, the use of Ethernet technology in automotive is gaining pace in Europe and North America. The paradigm shift towards connected cars and associated services such as automotive app stores and connected location-based services is fuelling the uptake. Along with the need to integrate multiple consumer electronic devices, the importance of offering prioritised, personalised services and maintaining brand identity are compelling automotive OEMs (original equipment manufacturers) t
    Read More
  • MaaSLab research assesses Londoners’ attitude to MaaS
    March 28, 2018
    As delegates head for our second MaaS Market Conference, Colin Sowman examines a new report looking at the potential impact of Mobility as a Service on London’s travellers and transport providers. In the run-up to ITS International’s MaaS Market (London) conference, a new independent report examining the travelling public’s appetite for Mobility as a Service (MaaS) has been published. Until now, there has been no real evidence base to evaluate the extent to which MaaS could change travel behaviour in
    Read More
  • TRB 2024 challenge spurs smart transportation innovation
    January 24, 2024
    The Center for Urban Informatics and Progress at UTC, Amazon Web Services, the National Science Foundation, the City of Chattanooga and ITS America sponsored the Transportation Forecasting Competition at TRB 2024: and the challenge threw up some fascinating projects
    Read More
  • TomTom to cut costs and staff
    April 17, 2012
    TomTom has announced it is targeting substantial cost savings in 2012 through a reorganisation and reducing some 10 per cent of the workforce. A company statement said that its research and development activities will be regrouped in ten product units - maps, traffic, navigation, automotive systems, PNDs, fleet services, fitness, mobile, POIs and speedcams - in a drive to increase development efficiency and reduce time to market.
    Read More

Highlighted Content