# Everest Fleet Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/everest-fleet-private

- Industry: Transportation Services
- Headquarters: Mumbai, India
- Website: www.everestfleet.com/
- Total disclosed funding: $26M
- Latest round: Series B (Sep 8, 2023)
- Investors on record: 9

## About

Everest Fleet Pvt Ltd, based in Mumbai, India, operates as a comprehensive fleet management company, providing efficient ride-hailing and logistics services across major metro cities with a focus on sustainability through eco-friendly vehicles.Everest Fleet Pvt Ltd, founded in 2016 in Mumbai, India, specializes in fleet management solutions. The company was established by a group of entrepreneurs, including Amar Kerkar, Anand Chheda, Apurav Mahajan, Monil Sheth, Prihaans Dedhiya, Sidarth Vohra, and Siddharth Ladsariya, who serves as the CEO. In January 2026, Everest Fleet Private Limited raised an undisclosed amount of venture debt funding from Uber Technologies Inc. Everest Fleet operates as a comprehensive fleet management company, primarily offering ride-hailing and logistics services through an extensive fleet of over 18,500 vehicles, including CNG and electric cars. Their core offerings focus on providing efficient transportation solutions across seven key metro cities in India, including Mumbai, Delhi, Bengaluru, Hyderabad, Pune, Kolkata, and Chennai. The company collaborates with major taxi aggregators to enhance shared mobility while also supporting unorganized sector entrepreneurship. In addition to ride-hailing, Everest Fleet manages the secure transportation of perishables using refrigerated and freezer vans, addressing the logistics needs of businesses across various sectors. The company's commitment to sustainable mobility is evident, as it integrates eco-friendly vehicles into its fleet and promotes employee mobility solutions and inter-city rides to further enhance the overall customer experience.In 2023, Everest Fleet reported a revenue of USD 58.13 mn and an EBITDA of USD 10.61 mn. Revenue generation is primarily driven through partnerships with taxi aggregators, where the company earns a share from each ride booked through its platform. The structure of transactions typically involves business-to-business (B2B) relationships, where local businesses, including restaurants and retail stores, utilize Everest Fleet's logistics services for the delivery of perishable goods. Furthermore, the company offers driving jobs that are tied to the operational framework of the fleet, with drivers compensated based on the number of completed trips and delivery assignments. While specific pricing plans for their ride-hailing and logistics services are not disclosed, the transactional model emphasizes flexible earnings for drivers and predictable costs for business clients, ensuring a stable service offering in the competitive fleet management landscape. The company will use the January 2026 Debt funding to expand its operations and grow the overall supply pool available for the ridesharing industry where demand continues to outstrip vehicle supply.

## Funding rounds

- Series B, Sep 8, 2023, $1M — Paragon Partners
- Series B, May 18, 2023, $19M — Uber Technologies Inc., Patni Family Office, Valiant Mauritius Partners FDI Limited, Spark Capital, Texport Industries Private Limited, Av-Arka Enterprises LLP, NABS VRIDDHII LLP
- Series A, May 15, 2022, $5.8M — Artha Venture Partners

## Investors

- Artha Venture Partners (https://capitalatlas.ai/funds/artha-venture-partners) — Series A
- Uber Technologies Inc. — Series B
- Patni Family Office — Series B
- Valiant Mauritius Partners FDI Limited — Series B
- Spark Capital — Series B
- Texport Industries Private Limited — Series B
- Av-Arka Enterprises LLP — Series B
- NABS VRIDDHII LLP — Series B
- Paragon Partners — Series B