Uber has invested $10 million in Indian fleet management startup Carrum Mobility in a Series B round as the ride-hailing giant increases its reliance on large fleet operators to supply vehicles and drivers in the South Asian nation.
The new investment values Carrum at ₹16 billion (about $168 million) post-money, founder and CEO Karan Jain told TechCrunch, up from a post-money valuation of ₹6 billion (around $63 million) after Uber invested $7 million in the firm in January. Jain said Uber now owns a stake in the “mid-teens” in Carrum.
A former McKinsey consultant who previously founded car-rental startup Revv, Jain started Carrum in 2024 after Indian automotive marketplace CarDekho acquired his earlier company in 2023. CarDekho was also Carrum’s first investor and remains a backer.
Carrum now owns about 5,100 vehicles across Bengaluru, Hyderabad, Mumbai, Pune, Delhi, and Kolkata, and has onboarded more than 18,000 drivers. The startup is currently generating annualized revenue of about ₹4.3 billion (around $45 million), Jain said.
The startup supplies vehicles to Uber in India for its entry-level Uber Go, Premier, and the premium Black tiers. About 70% of its fleet are hatchbacks used for Uber Go, around 10% are sedans for the Premier tier, and about 20% are SUVs, largely deployed on Uber Black. Carrum is Uber’s largest fleet partner for Black in India, Jain added.
