CarDekho Group, an India-based auto marketplace, has invested an undisclosed amount in Carrum, a fleet management company founded in early 2024 by Karan Jain. This investment is part of CarDekho’s broader strategy to expand its mobility portfolio and create synergies with its core auto offerings. Carrum, which now operates over 500 vehicles in Bengaluru and Hyderabad, aims to scale up to more than 2,000 vehicles by March next year. CarDekho sees this investment as a move towards innovation and social responsibility. This comes on the heels of CarDekho’s recent undisclosed investment in AI startup Biup Technologies. CarDekho is also gearing up for an IPO in 2025, having recently appointed a new CFO and a CBO for new cars. The company’s consolidated revenue for the year ending March 2023 stood at INR 24 billion ($285 million USD), marking a 46.3% increase year-on-year.
Automotive, Fleet Management, Technology,India
https://aimgroup.com/2024/09/04/cardekho-group-invests-in-fleet-management-company-carrum/