IOACU - Indian-car sharing company Zoomcar to go public through SPAC deal

• Zoomcar Inc., an Indian-based ride-sharing company, agreed to a deal to go public through SPAC Innovative International Acquisition Corp. ( NASDAQ: IOAC ).
• The deal will give the combined company an implied pro forma enterprise value of about $456 million, according to a statement. Upon close, the new company will be renamed Zoomcar Holdings Inc.
• Zoomcar was founded in 2013 and is headquartered in Bengaluru, India. Zoomcar describes itself as the leading marketplace for car sharing across India, Southeast Asia and the MENA region, with over 25,000 cars currently available to guests using its platform.
• Last November Zoomcar announced that it raised $92 million in a Series E fundraising round.

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