Uber Fuels Indian Fleet Startup Carrum with $7M Investment
Overview
Fleet management startup Carrum has secured $7 million in Series A funding, led by ride-hailing giant Uber. The capital infusion will fuel Carrum's expansion across major Indian cities, aiming to grow its fleet of electric and CNG vehicles. This strategic investment underscores Uber's commitment to strengthening its operational backbone in India.
Carrum Secures Series A Funding
Fleet management startup Carrum has successfully raised $7 million (approximately ₹63 crore) in its Series A funding round. The investment was spearheaded by global ride-hailing major Uber, signaling a significant vote of confidence in Carrum's operational capabilities.
Expansion Plans Fueled
Carrum currently partners with Uber in five key Indian cities: Mumbai, Bengaluru, Hyderabad, Pune, and Delhi. With this new capital, the company plans to extend its reach to encompass all major urban centers across the country. The expansion will primarily focus on growing its fleet and enhancing service delivery.
Strategic Partnership with Uber
Uber India and South Asia president Prabhjeet Singh lauded Carrum as a reliable and forward-thinking fleet partner. Singh stated that this investment would bolster their ability to serve the Indian market more effectively, by adding higher quality vehicles and improving the overall customer experience. Carrum manages a fleet exceeding 3,000 CNG and electric vehicles, employing tech-enabled performance monitoring for its vehicles and drivers.
Founder's Vision and Investor Backing
Carrum was established in 2024 by Karan Jain, following the acquisition of his previous venture, Revv, by CarDekho. The auto classifieds firm, CarDekho, is also an early equity investor in Carrum. The startup has also secured debt financing from entities including Trifecta Capital, Girnar Capital, Shriram Finance, and Northern Arc.
Environmental Focus
The company highlights its decarbonization initiatives, which have reportedly saved 6,000 tonnes of carbon footprint. Carrum also provides training and grooming for drivers operating under Uber's premium Uber Black service, further enhancing service quality. Despite global losses, Uber continues to aggressively invest in India, having previously committed over $50 million to its largest fleet partner, Everest Fleet.
