Automobile marketplace CarDekho has invested an undisclosed amount in fleet management services company Carrum, founded by Revv's former co-founder Karan Jain, it said in a statement on Tuesday.
The latest deal adds fleet management to the set of offerings of CarDekho, which counts Peak XV, Hillhouse Capital, CapitalG, Ratan Tata Trust, Leapfrog among its backers.
Last year, in December, it bought Gurugram-based shared mobility platform Revv, its first acquisition since 2019.
CarDekho Group, operated by Girnar Software Pvt. Ltd, already owns automobile e-marketplace CarDekho, insurtech platform InsuranceDekho, lending-tech platform rupyy, two-wheeler platform BikeDekho, auto portal ZigWheels, and automotive channel PowerDrift.
“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 Amit Jain, co-founder and chief executive of CarDekho Group.
“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,” he added.
Carrum has scaled its fleet to over 500 vehicles across Bengaluru and Hyderabad since inception with Uber as its first partner.
“This investment comes at the perfect time for us and after the initial set-up phase and will now allow us to start scaling up rapidly,” said Jain, founder of Carrum.
“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.”
The company plans to scale to over 2,000 vehicles across all major cities before the end of financial year 2025.
Founded in 2008 by siblings Amit Jain and Anurag Jain, CarDekho started as a car discovery platform for both new and old four-wheelers. Headquartered in Jaipur, CarDekho joined the coveted ‘unicorn’ club in October 2021 after raising $250 million in its Series E round, led by LeapFrog Investments.
