CarDekho Group made a strategic investment in fleet management services startup Carrum to help drive its sustainable mobility portfolio without disclosing the financial terms of the deal
The partnership aims to boost Carrum’s efforts in decarbonisation, fleet management efficiency and improvement of driver livelihoods
In December last year, CarDekho picked up a majority stake in Gurugram-based Revv, marking its foray into the shared mobility space
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A few days after extending partnership with SaaS platform BiUP Technologies through its investment arm Girnar Vision Fund (GVF), CarDekho Group has now made a strategic investment in fleet management services startup Carrum Mobility Solutions Pvt Ltd to help drive its sustainable mobility portfolio.
However, the company did not disclose the financial terms of the deal.
The partnership, announced today (September 3), aims to boost Carrum’s efforts in decarbonisation, fleet management efficiency and improvement of driver livelihoods.
“As we build a comprehensive ecosystem of mobility solutions, our focus remains on reducing the carbon footprint across Indian cities while empowering the mobility needs of Bharat 2.0,” said CarDekho Group’s cofounder and chief executive Amit Jain.
Founded in 2008, CarDekho Group operates various platforms in the autotech and finance sectors, including CarDekho.com, InsuranceDekho, Rupyy, and Revv. The company, valued at $1.2 Bn, counts Peak XV, Hillhouse Capital, CapitalG and Ratan Tata Trust, among its investors.
Meanwhile, Carrum, founded by Karan Jain in May this year, claims to have scaled over 500 vehicles operating in Bengaluru and Hyderabad. It aims to scale to over 2,000 vehicles across all major cities by the end of FY25.
The company signed its initial partnership with Uber to make its debut in the market.
“This investment comes at the perfect time for us and after the initial set-up phase, will now allow us to start scaling up rapidly. With a strong partner in CarDekho, we can leverage the strength of the group to continue to innovate and expand our service offerings within the mobility sector,” Karan Jain said.
In December last year, CarDekho picked up a majority stake in Gurugram-based Revv, marking its foray into the shared mobility space. As part of the deal, back then the company said it would merge Revv with the rest of its offerings.
Jaipur-based CarDekho Group has been looking to widen its offerings into various sectors through its recent investment in SaaS platform.
Previously, CarDekho expanded into the agricultural sector with TractorsDekho, in May. Prior to that, CarDekho’s fintech arm Rupyy entered the personal lending space, where Rupyy planned to scale up to INR 2 Lakh and above in the future.
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