Uber invests $10M in Indian fleet operator Carrum, increasing stake to mid-teens

Uber Deepens Investment in Carrum Mobility

Uber has made a $10 million investment in Carrum Mobility, an Indian fleet management startup, as part of a Series B funding round. This new investment values Carrum at approximately $168 million post-money. This follows an earlier $7 million investment by Uber in January, which valued Carrum at $63 million. Uber now holds a stake in Carrum in the "mid-teens."

Strategic Shift Towards Fleet Operators

The investment signals Uber's increasing reliance on large fleet operators like Carrum to provide vehicles and drivers in the Indian market. This model allows operators to deploy thousands of cars and manage drivers, differing from individual driver-owners. This strategy is particularly important for premium offerings like Uber Black, which operates exclusively through fleet partners in India to maintain service standards.

Carrum's Operations and Growth

Founded by Karan Jain in 2024, Carrum Mobility currently operates approximately 5,100 vehicles and has onboarded over 18,000 drivers across major Indian cities including Bengaluru, Hyderabad, Mumbai, Pune, Delhi, and Kolkata. The startup supplies vehicles for Uber Go, Premier, and Black tiers, with 70% of its fleet being hatchbacks for Uber Go and 20% SUVs for Uber Black. Carrum is Uber's largest fleet partner for Black in India.

Carrum reported annualized revenue of about $45 million. Its revenue for the year ending March 2026 was approximately $24.5 million, up from $6.5 million the previous year, with net profit rising to about $736,000 from $35 million.

Collaborative Partnership

The relationship between Uber and Carrum extends beyond a commercial arrangement, involving collaboration on new product launches and planning vehicle supply for Uber's platform. While Carrum is not exclusive to Uber, it currently does not intend to supply vehicles to rival ride-hailing platforms.