Investment

CarDekho Group Invests in Fleet Management Startup Carrum to Boost Mobility Portfolio

• ByStartupStory     |    September 3, 2024

CarDekho Group has announced a strategic investment in Carrum, a fleet management services company founded by Karan Jain, the ex-founder of Revv. This move is part of CarDekho’s broader strategy to enhance its mobility portfolio.

Founded in early 2024, Carrum has quickly scaled its operations to manage over 500 vehicles in Bengaluru and Hyderabad. The company’s growth trajectory follows CarDekho’s acquisition of Revv in 2023, marking the group’s entry into the shared mobility space.

Karan Jain, Founder of Carrum, expressed enthusiasm about the partnership, stating, “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. We are very focused on improving the lives of our driver partners which can benefit significantly by having CarDekho as our partner, to create long lasting impact at scale.”

Carrum has already achieved profitability and is cash flow positive. The company plans to significantly expand its fleet to over 2,000 vehicles across major Indian cities by the end of FY25.

CarDekho Group, valued at $1.5 billion, operates in various sectors including Insurtech through InsuranceDekho, Fintech through Rupyy, and content portals such as CarDekho.com and BikeDekho. Amit Jain, Co-founder and CEO of CarDekho Group, highlighted the strategic importance of this investment, saying, “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. Our investment in Carrum is not just about growth and expansion; it’s about responsibility, innovation, and making a lasting, positive impact on society and the environment.”

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