Uber invests $30 Mn in Everest Fleet at $425 Mn valuation

Uber invests $30 million in Everest Fleet, valuing the company at $425 million post-allotment.
Everest Fleet issues 13,726 Series C preference shares to raise the funds, as per regulatory filings.
The Mumbai-based firm plans to use the funds for general operations, working capital, and business expansion.
Uber now holds an 11.37% stake in Everest Fleet, making it the largest external stakeholder.
Everest Fleet's revenue for FY24 is projected to more than double to Rs 1,015-1,020 crore from Rs 466 crore in FY23.