Uber China is going for the kill totally! Raises $1.2 bn funding in China

Uber is deepening roots in Indian and Chinese market. After announcing its plans for India, Uber China raised $1.2 billion in ongoing fundraising round.

The US app-only taxi service is penetrating in world’s two growing economies and is leaving no stone unturned to deepen its roots.

Last month, Uber pledged $1 billion investment in India with plans to expand its operations to new cities.

Presently, Uber India is at a $250 million run rate, with close to 200,000 rides per day.

It also plans to reach over 1 million trips per day in the next six to nine months and expected to support over 200,000 jobs in India by 2016.

Uber, which was launched in India in 2013 from Bengaluru, is available in 18 cities.

It is rapidly changing the industry without owning a fleet of their own but using technology to provide cabs on demand.

Uber also started partnering with autos in Delhi and is rolling out cash payment options for customers in six cities.

However, it is yet to see how Uber plans to ensure safety of passengers.