Everest Fleet, a pioneering entity in the Indian mobility sector, is actively shaping the future of transportation. Established in 2016, this fleet management company oversees a diverse fleet of over 18,500 vehicles across 7 cities in India. The organization is dedicated to enhancing daily commutes and ensuring a seamless experience for riders through its efficient operational channels.
The Company aims to create a supportive ecosystem that benefits both drivers and riders, driven by efficiency and a desire to positively impact the community. In late 2022, Everest Fleet partnered with Tata Motors to procure 5,000 XPRES-T EVs, making a significant step towards sustainable transportation.
In June 2023, Everest Fleet successfully raised USD 20 million in funding, led by Uber, aimed at expanding its EV initiatives. Subsequently, Arka Credit Fund I (ACF I), an alternative investment fund, invested in the Company’s Non-Convertible Debentures (NCDs) in August 2023. The Company also reported a revenue of USD 125.49 million and demonstrated profitable growth in FY24, increasing its fleet size from 17,500 cars in May to 18,500 by September 2023.
The Company aims to create a supportive ecosystem that benefits both drivers and riders, driven by efficiency and a desire to positively impact the community. In late 2022, Everest Fleet partnered with Tata Motors to procure 5,000 XPRES-T EVs, making a significant step towards sustainable transportation.
In June 2023, Everest Fleet successfully raised USD 20 million in funding, led by Uber, aimed at expanding its EV initiatives. Subsequently, Arka Credit Fund I (ACF I), an alternative investment fund, invested in the Company’s Non-Convertible Debentures (NCDs) in August 2023. The Company also reported a revenue of USD 125.49 million and demonstrated profitable growth in FY24, increasing its fleet size from 17,500 cars in May to 18,500 by September 2023.
Additionally, Everest Fleet secured USD 5.95 million from Paragon Partners, a growth-oriented private equity fund, to facilitate entry into new markets. Moreover, the Company was recognized by Forbes India and D Globalist at DGEMS 2023 as a Select 200 Company with global business potential.
Further, Axis Bank, one of India’s leading private sector banks, has extended a loan of USD 12.1 million to the Company over four years under the GuarantCo partnership. This financial support aligns with Everest Fleet’s vision of transitioning to a more sustainable and eco-friendly fleet.
The company has successfully raised USD 30 million as part of its ongoing USD 50 million Series C funding round. This investment is aimed at bolstering Everest Fleet’s position in the shared mobility sector, enabling it to scale operations and expand its fleet of clean-energy vehicles, including CNG and electric vehicles
With an expanding fleet size, profitable operations, and recognition from industry leaders, Everest Fleet is well-positioned to continue its upward trajectory. The Company aims not only to grow its fleet but also to emerge as a key player in the electrification of transportation, to reduce carbon emissions while promoting green transportation.
Further, Axis Bank, one of India’s leading private sector banks, has extended a loan of USD 12.1 million to the Company over four years under the GuarantCo partnership. This financial support aligns with Everest Fleet’s vision of transitioning to a more sustainable and eco-friendly fleet.
The company has successfully raised USD 30 million as part of its ongoing USD 50 million Series C funding round. This investment is aimed at bolstering Everest Fleet’s position in the shared mobility sector, enabling it to scale operations and expand its fleet of clean-energy vehicles, including CNG and electric vehicles
With an expanding fleet size, profitable operations, and recognition from industry leaders, Everest Fleet is well-positioned to continue its upward trajectory. The Company aims not only to grow its fleet but also to emerge as a key player in the electrification of transportation, to reduce carbon emissions while promoting green transportation.