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...