Uber aims at a million rides a month in India, gets funds from Tata Group
19 Aug 2015 11:22 PM IST
The investment was between $75 million and $100 million
Representational Image. (Photo: AFP)
Mumbai: Taxi hailing service Uber Technologies Inc has received fresh investment from Tata Opportunities Fund, a private equity fund advised by India's Tata Capital, as it expands its business, the companies said.
The companies did not disclose the amount of investment but a source close to the matter said it was between $75 million and $100 million.
Uber is also planning to increase the number of rides in the country to more than a million per month in the next six to nine months, the company's India president, Amit Jain, told Reuters.
Industry sources said the company was averaging about 200,000 trips a month in India currently.
( Source : reuters )
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