Uber has invested $10 million in the Indian fleet management startup Carrum Mobility as part of a Series B funding round. This investment brings the post-money valuation of the company to approximately $168 million. Uber now holds a stake in the mid-teens percentage range in the startup.
Founded in 2024 by Karan Jain, Carrum operates a fleet of 5,100 vehicles across six Indian cities, including Bengaluru and Mumbai, and employs over 18,000 drivers. The company supplies vehicles for Uber Go, Premier, and Black services, acting as the largest fleet partner for the premium Black tier in India.
Carrum reported an annualized revenue of approximately $45 million. For the fiscal year ending March 2026, the startup generated revenue of about $24.5 million with a net profit of $736,000. The company finances its vehicle purchases primarily through debt, with borrowing costs decreasing by 40% over the past year.
The startup plans to more than double its fleet size to 11,000 vehicles within the next 12 months. The new capital will be used to support geographic expansion, enhance the technology platform, and facilitate hiring. Carrum aims to eventually become a global fleet partner for Uber.
