Paragon Partners has invested INR 50 crore in Everest Fleet for its growth and expansion into new markets.
Sumeet Nindrajog, Cofounder and Senior Partner, Paragon Partners, said that shared mobility presents a solution to the commuting woes of urban India.
Logistics and mobility are the key areas of focus and Everest Fleet marks Paragon’s second investment in this segment and the fourth investment from its second fund, he added.
Siddharth Ladsariya, Founder and CEO, Everest Fleet, said that India is at a transformative juncture for shared mobility. The company visions a future where fleet management providers will partner extensively with cab aggregation and ride-hailing platforms to provide India’s urban citizens with comfortable commute and travel options, he added.