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RE: LeoThread 2024-09-20 00:29

in LeoFinance • 2 months ago

🧵 1. Uber invests $30 million in Everest Fleet, Mumbai-based startup, at $425 million valuation as part of Series C funding. @TheKredible data confirms. #business

2 months ago in LeoFinance by
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     2 months ago  

    🧵 2. Regulatory filings show 13,726 Series C preference shares approved for Everest Fleet. This marks Uber's second investment in the fleet operator startup.

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       2 months ago  

      🧵 3. Uber now holds an 11.37% stake in Everest Fleet. Founder still retains 52% stake. ESOP pool accounts for 4.76% of the company.

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         2 months ago  

        🧵 4. Everest Fleet plans to use the funds for operating expenses, working capital, capital expenditure, and business expansion. Partnership with Uber and Ola.

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           2 months ago  
          1. Revenue of Everest Fleet grows from ₹466cr in FY23 to around ₹1,015cr in FY24. The startup reports a profit of ₹41cr in FY23. IFC commits $20 million in additional equity investment to potentially raise the Series C round to $50 million.
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