[12] In December 2023, Zoomcar merged with Innovative International Acquisition Corporation (IOAC), a special-purpose acquisition company, to become listed on the Nasdaq as Zoomcar Holdings Inc.[13] In June 2024, CEO Greg Moran was fired months after the U.S. Securities and Exchange Commission had flagged concerns about the company's revenue projections.

[14] Zoom initially raised capital from individual investors including Former US Treasury Secretary Lawrence Summers,[15] Chair of the UK Institute of Directors Lady Barbara Judge,[16] Vice-Dean of International Legal Studies at Harvard Law School William P. Alford,[17] Wharton Statistics Chair Edward George,[18] and the former Director of the Cambridge Centre for Entrepreneurial Studies Shai Vyakarnam.

[20] Zoomcar's institutional investors include: Mahindra & Mahindra,[21] Ford Motor Company,[22] Sequoia Capital,[23] Nokia Growth Partners,[24] FundersClub,[25] Basset Investment Group,[26] Athene Capital,[citation needed] Empire Angels, VentureSouq,[27] OurCrowd,[28] Globevestor.,[29] and Cyber Carrier CL.

[32] In November 2013, Zoom, Uber, and the Ashoka Foundation launched a month-long campaign in Bangalore called RideSmartBLR to encourage car-rental and discourage drunk driving for its health, economical and environmental benefits.

Following an incident in which a convoy of 15 cars rented from the company was reportedly attacked by members of the union with stones and iron rods, Zoomcar issued a cautionary mail to customers traveling to Khardung La and Nubra valley.

[36] The following week Zoom issued an update stating that the situation had aggravated and the company urged extreme caution to customers traveling to the region.