Everest Fleet Secures USD 30 Mn in Series C Funding from Uber to Boost Clean-Energy Fleet Expansion The capital injection will enable Everest Fleet to scale its operations and expand its fleet of clean-energy vehicles, focusing on compressed natural gas (CNG) and electric vehicles (EVs).
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Mumbai-based Everest Fleet, a leader in the shared mobility space, has secured USD 30 million in Series C funding from Uber, further solidifying its position in India's evolving transportation landscape.
The capital injection will enable Everest Fleet to scale its operations and expand its fleet of clean-energy vehicles, focusing on compressed natural gas (CNG) and electric vehicles (EVs).
Siddharth Ladsariya, Founder, Everest Fleet, said, "The shared mobility space in India is evolving rapidly, and we are committed to playing a leading role in this transformation. This investment will fuel our growth as we expand our fleet of CNG and electric vehicles, further supporting India's shift toward sustainable transportation and helping reduce emissions."
Founded in 2016 by Siddharth Ladsariya and Prihaans Dedhiya, Everest operates a fleet of over 18,500 vehicles across seven cities, including Mumbai, Delhi, Hyderabad, Pune, Chennai, Kolkata, and Bangalore. All vehicles are powered by clean fuel sources like CNG and electricity, making Everest Fleet a pioneer in environmentally friendly transportation.
Everest Fleet has been a key partner to ride-hailing platforms Uber and Ola, and it claims to be Uber's largest professionally managed fleet supplier in the country. The company's focus on sustainability aligns with global trends toward green energy, as it aims to reduce emissions while expanding its fleet.
This funding round builds on Everest Fleet's previous investments, including a USD 20 million raise in 2023 and a USD 12 million loan from Axis Bank earlier this year.
