Uber India is reinforcing its commitment to India’s fast-evolving mobility landscape with a fresh $20 million (₹177.5 crore) investment in Mumbai-based Everest Fleet, one of the country’s largest managed fleet operators. This follows Uber’s previous $30 million investment in September 2024, taking its total funding in the company to $50 million within a year.
As per regulatory filings, Everest Fleet will issue 9,682 Series CCCPS shares at ₹1,83,388 each, valuing the company at around ₹3,700 crore ($420 million). Post-transaction, Uber India will own roughly 15.62% of Everest Fleet, while founder Siddharth Anand Ladsariya will continue to hold nearly 49.54%.
Founded in 2016, Everest Fleet operates more than 18,500 vehicles, including CNG, EVs, and goods carriers, across major metros like Mumbai, Delhi, Bengaluru, Hyderabad, Chennai, and Kolkata. The company manages cars for platforms such as Uber and other ride-hailing and logistics firms, ensuring high efficiency and compliance.
The latest investment will be channelled toward fleet expansion, EV transition, capital expenditure, and working capital. Everest Fleet plans to add thousands of new electric and CNG vehicles in the next 12–18 months, aligning with India’s shift toward greener urban transport.
For Uber, this move reinforces its strategy to strengthen supply reliability, support professional driver partners, and accelerate its push toward 100% electrification by 2030 in India. The partnership is also expected to enhance Uber’s control over vehicle quality, uptime, and sustainability standards.
Industry experts see this as a long-term bet on India’s shared-mobility future — one where fleet operators like Everest play a crucial role in ensuring scale, efficiency, and green growth. The deal underscores Uber’s view that India is not just one of its largest markets, but also a testbed for sustainable, high-volume mobility innovation.
