Tata Opportunities Fund (TOF) is set to make a ‘significant investment’ in cab aggregating app Uber to expand its services and solutions in India, by making use of TOF’s network within the Tata Group and outside of it. Note that Ratan Tata, chairman emeritus of Tata Sons, invested an undisclosed amount in rival service Ola in his personal capacity last month, at same time when Uber expanded operations to 7 other cities in India, totalling to 18. Uber currently claims to have a 40% month on month growth rate and a supposed 35% market share. Earlier this month, Uber told MediaNama that it had around 150,000 registered cars in its fleet after rival Ola claimed to own 80% of the online cab market share by registered vehicles. Funding from Microsoft and BCCL, India investment Two weeks ago, the company raised around $1 billion in funding from Microsoft and The Times Group’s parent company Bennett, Coleman and Company Limited (BCCL), bringing the company’s total funding to over $5 billion according to reports. At that time, Uber said that the funding will be useful to expand to markets outside the US, most noticeably in India (its second largest market), where it would pump $1 billion over the coming year. In India, it would invest this money in the next 6-9 months to improve its operators, expand to other cities, develop new products and payment solutions and set up a better support network. Cars damaged in Pune and Mumbai Last week, the company called for support…
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