The Indian Wire » Startups » Netherlands-based Uber BV pumps-in INR 2,539 cr, individual user data in Uber India to set up office
Startups

Netherlands-based Uber BV pumps-in INR 2,539 cr, individual user data in Uber India to set up office

Uber BV, a parent company of the ride-hailing unicorn Uber, has allotted INR 2,539 crore, along with business and individual user data to the Indian unit i.e Uber India Systems Private Limited (UISPL), reported Inc42.

According to sources, as part of the transaction, the Netherlands- based Uber BV was issued 15,987,615 equity shares at a price of INR 10 per share at a premium of INR 1,578.20 respectively.

With the capital infusion, Uber plans to make its entire India business, which include cab-hailing and food delivery, among others, to work under Uber India Systems.

Uber Technologies Inc. is an American multinational transportation network company (TNC) offering services that include peer-to-peer ridesharing, ride service hailing, food delivery, and a bicycle-sharing system.

The company is based out of San Francisco and has operations in 785 metropolitan areas worldwide. Its platforms can be accessed via its websites and mobile apps.

Recently, Uber announced the launch of its UPI-based financial services app ‘Uber Money‘ in India by 2020.

For details: Uber set to launch UPI-based financial services app ‘Uber Money’ in India by 2020

Some of the emerging startups that falls under the similar roof include Ola, Rapido, AHA TaxisInstacabSavaari, among others.

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