Uber has invested $10 million in Indian fleet administration startup Carrum Mobility in a Sequence B spherical because the ride-hailing large will increase its reliance on massive fleet operators to provide autos and drivers within the South Asian nation.
The brand new funding values Carrum at ₹16 billion (about $168 million) post-money, founder and CEO Karan Jain advised TechCrunch, up from a post-money valuation of ₹6 billion (round $63 million) after Uber invested $7 million within the agency in January. Jain stated Uber now owns a stake within the “mid-teens” in Carrum.
A former McKinsey guide who beforehand based car-rental startup Revv, Jain began Carrum in 2024 after Indian automotive market CarDekho acquired his earlier firm in 2023. CarDekho was additionally Carrum’s first investor and stays a backer.
Carrum now owns about 5,100 autos throughout Bengaluru, Hyderabad, Mumbai, Pune, Delhi and Kolkata, and has onboarded greater than 18,000 drivers. The startup is presently producing annualized income of about ₹4.3 billion (round $45 million), Jain stated.
The startup provides autos 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, round 10% are sedans for the Premier tier, and about 20% are SUVs, largely deployed on Uber Black. Carrum is Uber’s largest fleet companion for Black in India, Jain added.
In contrast to particular person drivers who sometimes personal or finance their autos, operators reminiscent of Carrum can put hundreds of vehicles on Uber whereas recruiting and coaching drivers.
The enterprise mannequin could also be rising vital for premium choices. Jain stated Uber Black in India operates solely by means of fleet companions, because the service requires tighter management over autos, drivers, and repair requirements. He additionally stated Uber’s desire for fleet operators has develop into a part of its provide technique in different markets.
Uber’s relationship with Carrum goes past a typical industrial association, Jain stated. The 2 firms are engaged on new product launches and planning how a lot car provide so as to add to the ride-hail large’s platform.
Carrum isn’t unique to Uber, however Jain stated his startup presently has no intention of supplying autos to rival ride-hailing platforms.
The startup generated income of about ₹2.33 billion (round $24.5 million) within the 12 months ended March 2026, up from round ₹620 million (about $6.5 million) a 12 months in the past, and internet revenue rose to about ₹70 million (round $736,000) from ₹35 million (about $368,000), Jain stated.
Carrum sometimes funds its autos with debt whereas funding about 10% to fifteen% of their buy value upfront, Jain stated. The agency’s borrowing prices, he said, have fallen about 40% over the previous 12 months, which he attributed to its stronger steadiness sheet, profitability and Uber’s backing.
Over the following 12 months, Carrum plans to greater than double its fleet to about 11,000 autos, Jain stated. The startup additionally plans to make use of the brand new capital to broaden into extra cities, strengthen its know-how platform, and rent because it scales.
In the end, Carrum’s ambitions lengthen past India, Jain stated, noting that the startup needs to ultimately develop into a worldwide fleet companion for Uber. He declined to say whether or not the 2 firms have particularly mentioned increasing their partnership outdoors India.
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