Wednesday, April 24

Tag: cab aggregator

Uber To Offer Insurance To Driver-Partners In India
29Aug By Press Trust of IndiaNo Comments
News

Uber To Offer Insurance To Driver-Partners In India

US-based cab aggregator Uber today said it will roll out an insurance programme for over 4.5 lakh of its driver-partners in India in partnership with ICICI Lombard General Insurance. The programme, which will go live from September 1, will be extended for free to driver-partners aged 18-65 years. Uber currently has a similar offerings in Indonesia and Myanmar. Uber, which is locked in an intense battle for leadership with SoftBank-backed Ola in India, counts India among its top markets. It claims to have seen a 115 per cent increase in number of completed trips on its platform in July this year over the year-ago period in India. The insurance offered will cover accidental death and disablement, hospitalisation and outpatient medical treatment in case of an accident while the dr...
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Ola Invests Rs 100 Cr In Ola Fleet Technologies
23Jul By Press Trust of IndiaNo Comments
FUNDING

Ola Invests Rs 100 Cr In Ola Fleet Technologies

Cab aggregator Ola has invested Rs 100 crore in its car leasing subsidiary, Ola Fleet Technologies. The investment comes at a time when the homegrown firm is locked in an intense battle with US-based Uber for leadership in the Indian market. The proposal for Ola investing Rs 100 crore into Ola Fleet Technologies was accepted by the board of the car leasing arm last month, as per documents filed with the Corporate Affairs Ministry.  The SoftBank-backed Ola had invested Rs 50 crore in the unit in February this year. Ola did not reply to an emailed query in this regard. In 2015, Ola had announced setting up of a captive leasing subsidiary to finance cars to be added to its platform and had announced an investment of Rs 5,000 crore. Through Ola Fleet Technologies, the Bengaluru-b...
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UberMOTO Finally Arrives In Noida And Ghaziabad For Last Mile Connectivity
22Jul By AnkitaNo Comments
News

UberMOTO Finally Arrives In Noida And Ghaziabad For Last Mile Connectivity

Cab aggregator Uber's UberMOTO service finally arrives in Noida and Ghaziabad much after the launch in Gurgaon and Faridabad; on Friday. The service will provide last mile connectivity around the national capital region, with uberMoto already up and running in Gurgaon and Faridabad. UberMOTO will be a quick, easy and affordable option to get around the cities in no time. Uber is thankful to the government for supporting this vision towards solving for mobility needs and creating economic opportunities. "With the launch in Noida and Ghaziabad, we aim to give riders an opportunity to travel smartly across NCR without worrying about issues like traffic, congestion and last mile connectivity," Prabhjeet Singh, General Manager, Delhi NCR & North India, Uber, said. After this launch, Ub...
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Uber Infuses $8 Million into India Ops- Distributed Between Mumbai And Delhi
7Jul By RishabhNo Comments
BUSINESS

Uber Infuses $8 Million into India Ops- Distributed Between Mumbai And Delhi

San Francisco-headquartered cab-aggregator Uber infused another amount of Rs 51.64 crore (about $7.9 million) into its Indian arms in May, documents filed with the Ministry of Corporate Affairs show. The money was distributed between Mumbai-based Uber India Systems Pvt. Ltd which received Rs 45.2 crore ($6.9 million) and Delhi-based Uber India Technology Pvt. Ltd got Rs 6.42 crore ($991,000). The funds came from Uber’s Netherlands-based subsidiaries, Uber Holdings International BV & Uber International BV (for Uber India Systems) and Besitz Holding BV & Mieten BV (for Uber India Technology). In its effort to capture markets and acquire customers, Uber has been making losses globally. The company’s 2016 net revenue stood at $6.5 billion while adjusted net losses were $2.8 billi...
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Uber Will Hire Indian Techies For Its Engineering Center
31May By PriyankaNo Comments
News

Uber Will Hire Indian Techies For Its Engineering Center

US-based cab aggregator Uber is hiring more techies for its engineering centres in the country as it looks to roll out more innovations from India in areas like payments, bookings and rider and driver experience. The company is also in discussion with National Payments Corporation of India (NPCI) to enable customers pay for rides using UPI. "We are hiring rapidly. We are looking for product managers, data scientists, designers etc," Uber India Head of Engineering Apurva Dalal told reporters here. Uber has two engineering centres in India in Bengaluru and Hyderabad. The teams work on areas like safety, payments, driver growth, maps, vehicle telematics and rider experience, among others. It currently has about 100 people in these two centres. Dalal, however, did not comment on ho...
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Juno, The Uber Rival Which Offers Equity to Drivers, Looks to Raise $50M Funding
4Oct By reutersNo Comments
FUNDING

Juno, The Uber Rival Which Offers Equity to Drivers, Looks to Raise $50M Funding

Juno, a startup looking to attract drivers from bigger ride-sharing rivals such as Uber by offering them its own stock, is seeking $50 million in its biggest fundraising round to date, according to a person familiar with the matter. Investors have poured more than $28 billion into the ride services sector over the past decade, propelling growth at Uber, Lyft, China's Didi Chuxing and a host of smaller upstarts, such as Gett. Economists have said there may be scope for even more competition, because ride-sharing services are relatively cheap to start, depend on contract labour with no inherent loyalty or specialized skills, and have free apps that can be downloaded in seconds. Juno is working with investment bank Mizuho Financial Group Inc to find investors, according to the person...
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