Uber to raise $2.1 billion in funding, now values at $62.5 billion

Online taxi hailing company, Uber has is seeking to raise $2.1 billion in latest round of funding, according to a latest report from Bloomberg. Uber has raised the funding on the same day when the four taxi aggregators created an alliance.


The latest round of the funding raised by Uber will now value the company at a whopping $62.5 billion. Tiger Global Management and T. Rowe Price have closed their investments in the latest round, but Uber is still on the hunt for other strategic investors, according to report. The funding could help Uber expand globally even further and face the growing competition from other aggregators around the world.

In July, Uber closed a $1 billion Series F round of fundraising, bringing its total raised to $6.91 billion at a $52 billion valuation while in August, the company secured ‘significant’ amount of funding from Tata Opportunist Fund. Uber is also focusing on its operations in India and had committed to invest $1 billion in the country over a period of nine months. Uber is now the most valued private company in the world and is followed by Chinese smartphone maker Xiaomi that values at $46 billion.

Author: Sneha Bokil

Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+