Uber invests $247 million into its India business, after CEO Dara Khosrowshahi’s visit

  • Uber invested $247 million into its India business, according to data intelligence platform paper.vc.
  • In October, Uber CEO Dara Khosrowshahi visited India and launched the public transport feature in Delhi.
  • The money is reportedly set to boost the UberEats business.
Ride hailing giant Uber invested $247 million into its India business, according to data intelligence platform paper.vc. The investment which was approved on October 29, around the time Uber CEO Dara Khosrowshahi visited India.

Uber recently moved its Indian ride sharing and UberEats business to an Indian entity – Uber India System Pvt Ltd. The investment came from the parent company’s Netherlands entity.

"This is the single largest foreign direct investment by Uber into its Indian operations and follows the transfer of its India business from a Dutch entity to an Indian entity. We estimate that a large part of this allocation would go to Eats business, therefore posing a direct challenge to other food delivery companies such as Swiggy and Zomato,” said Vivek Durai, co-founder, paper.vc.

Uber CEO Dara Khosrowshahi visited India in October to launch its public transport feature in Delhi. With this, India's national capital became the ninth city in the world and the first in Asia, to get the feature.

Khosrowshahi launched the feature in partnership with the Delhi Metro Rail Corporation. The feature allows users to check schedules for the Delhi Metro, based on pricing as well as timing.

See Also:
Uber CEO Dara Khosrowshahi launches its public transport feature in Delhi, its first for Asia
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