Uber Technologies Inc has raised up to $100 million from Tata Opportunities Fund, the Indian conglomerate, as the American international transportation network company prepares to expand in India. Globally, Tata Opportunities will invest between $75 million to $100 million in Uber, say media reports.
Late last month, Uber announced plans to invest 1 billion U.S dollar into India where it competes with local rivals like Ola, a ride-booking service that recently raised $400 million. Notably, The Company has faced a lot of flak in India as a result of the disciplinary issues but it regards India as one of its most-important markets.
The partnership with Tata follows a similar deal with Baidu, a Chinese search engine, which invested millions of dollars into Uber last year. Uber is planning a big leap in the Chinese market as well.
Uber operates in more than 330 cities in 60 countries and has it’s headquarter at San Francisco.