Uber to invest $400 million in India to grow business, expand and hire.

Taxi hailing app Uber could set aside nearly half the amount from a proposed round of funding to grow business in India, its largest and fastest growing market outside of the US. 'Uber could invest over $400 million in India,' said two people familiar with developments. 'It is likely to use the cash to strengthen presence where it has a footprint, expand to newer cities and to aggressively hire,' said one source.

According to a report in the Wall Street Journal, Uber has informed its investors that it plans to raise more than $1 billion in funding which is likely to value the company at more than $30 billion.


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