Uber injects $10M into Carrum to bolster premium ride supply in India
Uber has invested $10 million in Carrum Mobility, a fleet operator with about 5,100 vehicles across six Indian cities, in a Series B round that values the startup at $168 million. Carrum is Uber's largest fleet partner for its premium Uber Black service, and the company's annualized revenue is around $45 million. The investment follows an earlier $7 million round in January and gives Uber a mid-teens stake.
Carrum's yearly revenue climbed from roughly $6.5 million to $24.5 million in the fiscal year ending March 2026, while net profit doubled to approximately $736,000. The company relies heavily on debt financing, putting down only 10-15% upfront, and its interest expenses have decreased by 40% thanks to stronger financials and Uber's support.
The fleet operator currently manages 5,100 vehicles across six Indian cities and intends to expand to roughly 11,000 within the next year. Although Carrum is not bound to Uber exclusively, it has no immediate plans to supply rival services, and its founder envisions becoming a worldwide fleet partner for Uber eventually.
This deepening partnership could reshape urban mobility employment in India. By consolidating vehicle ownership and driver management under large operators, individual drivers may face reduced autonomy and bargaining power, potentially shifting them from independent contractors to more structured employees. For riders, the expansion of premium services like Uber Black could improve service consistency and vehicle quality, though it might also raise prices for premium tiers. The model's success may influence how ride-hailing companies structure supply chains globally.