Uber pumps 30B rupees into India arm in recent months: minister

Uber pumps 30B rupees into India arm in recent months: minister

Uber Increases Commitment to India with Strategic Investments and Expansion Plans

Uber has reinforced its presence in India's mobility and logistics sectors through recent investments and strategic initiatives, according to government and company statements. The ride-hailing giant announced an additional $20 million (₹177.5 crore) investment in Everest Fleet Pvt. Ltd., a Mumbai-based fleet management company, marking its third funding round in the firm. This brings Uber India's total stake to 15.62%, with Everest Fleet's valuation remaining at approximately ₹3,700 crore ($420 million) according to company announcements. The funding will support fleet expansion, capital expenditures, and operational growth, as Everest Fleet operates over 18,500 CNG and electric vehicles across major cities.

Separately, Uber has committed to a broader $1 billion investment in India to expand its services, as reported by Reuters. While specific allocation details remain undisclosed, the company has emphasized growth in both mobility and logistics. Recently, Uber launched Uber Direct, a B2B logistics service integrated with the Open Network for Digital Commerce (ONDC) platform, to deliver groceries and food for partners like Zepto, KPN Farm Fresh, KFC, and Burger King according to economic reports. The initiative aims to leverage India's two-wheeler ecosystem, which remains a key growth driver for the company.

India's mobility market remains highly competitive, with Uber facing challenges from domestic rivals like Ola, Rapido, and the newly launched government-backed Bharat Taxi. The latter, a cooperative model offering profit-sharing for drivers, aims to disrupt Uber's dominance by charging no commissions and expanding nationwide within two years according to Reuters coverage. Despite competition, Uber India President Prabhjeet Singh highlighted the company's focus on innovation, including subscription models for drivers and passengers, to maintain its market position according to company statements.

Uber's investments align with India's growing digital commerce and logistics demand, with the ride-hailing market projected to expand significantly in the coming decade according to market analysis. The company's dual focus on mobility and B2B logistics underscores its long-term strategy to deepen integration into India's urban infrastructure.