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Uber leads $20 mn round for Everest Fleet's EV expansion
Mint Mumbai
|June 15, 2023
US ride-hailing giant Uber has led a $20 million funding round in Everest Fleet, a Mumbai-based provider of fleet management services to taxi aggregators
Prominent family offices including Patni Family Office, Incred, Ashish Kacholia, Spark AIF, and Grip Invest also participated in the round, a spokesperson for Uber India said. The spokesperson didn't disclose the size of Uber's investment.
The investment comes less than a month after Uber said it will add 25,000 electric vehicles on its platform in seven Indian cities by partnering with fleet providers such as Everest, Moove and Lithium, in a bid to step up its initiatives in sustainability in the country.
Further, the company is about to roll out its Uber Green offering in Delhi, Mumbai, and Bengaluru. This would allow a rider the option of choosing an EV while booking a ride.
The investment will help Uber's drivers access vehicles, many of whom depend on fleet management companies.
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