Uber Invests $10M in Indian Fleet Operator Carrum at $168M Valuation
Uber has invested an additional $10 million in Indian fleet management startup Carrum Mobility, raising the company's post-money valuation to approximately $168 million. This follows a previous investment of $7 million from Uber earlier this year and increases Uber’s stake in Carrum to around mid-teens percentage ownership. Carrum supplies vehicles for multiple tiers of Uber services across India, including entry-level Go, Premier, and premium Black rides. Carrum currently operates over 5,100 vehicles with more than 18,000 drivers active on its platform in major Indian cities like Bengaluru, Mumbai, Delhi, and Kolkata. The startup reported annualized revenue of about $45 million as of the latest data provided by CEO Karan Jain. Uber relies heavily on fleet operators for premium services due to stricter control requirements over vehicles and service standards. Carrum plans to expand its operations significantly in the coming year, aiming to double its vehicle count while enhancing technology infrastructure and exploring international growth opportunities with Uber.
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Topics: Carrum Mobility fleet management India market expansion Series B funding Uber