Uber invests $10 million in Carrum Mobility’s Indian fleet
Uber deepens its investment in Indian fleet supply
Uber has invested $10 million in Indian fleet management startup Carrum Mobility in a Series B round, valuing the company at ₹16 billion, or about $168 million, post-money. Founder and chief executive Karan Jain said Uber now owns a stake in the mid-teens.
The investment follows Uber’s $7 million backing in January, when Carrum’s post-money valuation was ₹6 billion, or about $63 million. Carrum was founded in 2024 by Jain, who had previously founded car-rental startup Revv. Automotive marketplace CarDekho acquired Revv in 2023, became Carrum’s first investor and remains a backer.
Carrum owns about 5,100 vehicles in Bengaluru, Hyderabad, Mumbai, Pune, Delhi and Kolkata, and has onboarded more than 18,000 drivers. Jain said the business is generating annualised revenue of about ₹4.3 billion, or approximately $45 million.
Fleet partners underpin Uber’s premium service supply
The company supplies vehicles to Uber in India for Uber Go, Premier and Black. Around 70% of Carrum’s fleet consists of hatchbacks used for Uber Go, about 10% comprises sedans for Premier, and about 20% consists of SUVs largely deployed on Uber Black. Carrum is Uber’s largest fleet partner for Black in India.
Unlike individual drivers that usually own or finance vehicles themselves, a fleet operator can deploy thousands of cars while recruiting and training drivers. Jain said Uber Black in India operates exclusively through fleet partners because the service requires closer control of vehicles, drivers and service standards.
That operational role sits alongside Uber’s broader mobility strategy, where Uber’s partner-led autonomous mobility network strategy illustrates the company’s effort to assemble transport capacity through partners rather than build every capability internally.
Expansion plans follow revenue and profit growth
For the year ended March 2026, Carrum generated about ₹2.33 billion in revenue, or around $24.5 million, up from about ₹620 million a year earlier. Net profit rose to roughly ₹70 million from ₹35 million. Jain said the company generally finances vehicles with debt and contributes 10% to 15% of the purchase price upfront.
Borrowing costs have declined by about 40% during the past year, which Jain attributed to a stronger balance sheet, profitability and Uber’s backing. Carrum intends to use the capital to expand into more cities, improve its technology platform and hire as it scales.
Over the next 12 months, Carrum plans to more than double its fleet to about 11,000 vehicles. For businesses building marketplace supply, the transaction highlights how fleet scale, financing capacity and consistent operating standards can become central to serving higher-control ride categories.