Taxi hailing service Uber Technologies, which announced an investment of $1 billion into its Indian operations last month, has doubled its city-wise presence in the country in less than two months. On Monday Uber launched in four more cities – Guwahati, Nashik, Thiruvananthapuram and Vadodara – thus increasing its presence to 22 cities in India.
For Uber, which launched here two years ago, India is the largest geographic market after the United States. With over 1.5 lakh drivers attached to its fleet, the company has recorded a 40% month-on-month growth and plans to hit over one million trips per day in the next six to nine months.
Neeraj Singhal, Head of Expansion for India at Uber said, “We continue to see exponential growth and adoption in new markets, and are thrilled to be creating thousands of entrepreneurship opportunities for people as driver partners on our platform as we expand into more cities.”
Ahead of this expansion plan, Uber received an undisclosed investment from Tata Opportunities Fund. There are reports that it has raised close to $100 million from Tata. Last week Uber announced a partnership with Bharti Airtel Ltd to offer free in-car wifi, the service which started in Mumbai last week.
It rival in India Ola has about two lakh drivers attached to it and is targetting one million rides by the end of this month. Ola has also announced an investment of $500 million, to take its fight with Ubers to the next level, in India’s Rs 50,000 crore online taxi market.