Uber to invest additonal $500 Million in India


Uber, the global cab aggregator giant has allocated additional $500 million to be invested in India over the next quarter. The investment is reportedly being injected to take over the biggest rival in India, Ola.

Uber CEO, Travis Kalanick has said over and over again that India remains one of the major markets for them and it can surpass even United States and China in the time to come. In July 2015, it had announced another $1 Billion fund for its Indian operations, however, sources claim that the allocated fund in 2015 has not been fully used yet.

The company has been one of the biggest names in India since its launch in 2013. The company has implemented many strategies to lure the Indian customer, some of them being the slashed rates for Uber Go and Uber X categories along with introducing cash payments in order to get more customers on the board. Recently, it has also announced the cheapest way of transport in form of two wheeler in major metro cities.